Peter Munk, a wealthy philanthropist and founder of the world's largest gold mining corporation, Barrick Gold Corp., has admitted to making illegal campaign contributions to the Conservative party on three separate occasions between 2008 and 2012, according to The Canadian Press.
Munk signed a compliance agreement with Elections Canada on Dec. 8, admitting that he made contributions that exceeded the maximum allowable in 2008, 2010, and 2012. He donated a total of $2,950 more than the legal limit for political contributions. The agreement was published online on Thursday, following Election Canada's protocol to make all compliance agreements public "in order to maintain transparency," according to the Commissioner of Canada Elections' website.
Andy Lloyd, a spokesperson for Munk, claimed in an email to the Canadian Press that "the over-contributions were unintentional," adding that Munk has "engaged with Elections Canada to reach a compliance agreement that provides full transparency for these contributions." Because Munk voluntarily signed the compliance agreement - which included agreeing to comply with the regulations on party donations in the future - he will not face criminal charges.
Munk donated $1,000 more than the $1,100 contribution limit permitted by an individual in 208, which included a $1,000 donation to the riding held by former Conservative finance minister Jim Flaherty. He also contributed both in 2008 and 2010 to the riding association of Joe Oliver, who went on to win the riding in 2011 and replace Flaherty in 2014 as finance minister.
Former Conservative foreign affairs minister John Baird currently serves as an international adviser to Barrick Gold Corp., a company that had met with him several times when he was a minister to discuss mining and international trade, The Star reported back in March.
Munk stepped down as chairman of Barrick Gold in 2014, a company he founded in the 1980s. He founded the Peter and Melanie Munk Foundation and has donated millions of dollars to various causes both in Canada and abroad. He was admitted to the Order of Canada in 1993.
