BC pharmacist accused of stealing $1M from Shoppers Drug Mart
Shoppers Drug Mart Inc. is suing a BC pharmacist for allegedly using company money for far-off vacations, home improvements, and high-end shopping.
The drug store chain is accusing Mulugeta Woldetsadik of stealing more than $1 million in funds meant for business purposes by way of inappropriate withdrawals, credit card charges, and bank transfers.
“The funds were used for luxury vacations, meals, and shopping sprees in a foreign jurisdiction, and to pay down the mortgages and make improvements on his home,” Shoppers Drug Mart alleges in a Notice of Civil Claim filed with the BC Supreme Court this week.
Woldestadik lives in Courtenay on Vancouver Island and is the sole owner of Mulugeta Pharmacy Inc., which entered into a contractual relationship with Shoppers to operate three stores Northern BC and later one location on Vancouver Island.
The parties agreed certain amounts of working capital would be present in business accounts meant for pharmacy operation. Instead, Shoppers alleges Woldetsadik spent large chunks of it on luxury experiences and items for himself, including:
- $71,000 at a Dubai hotel
- $51,000 at Madison Avenue Couture
- $43,000 on Expedia
- $21,000 on EthiopianAir
- $20,000 at Lugaro Jewellers Victoria
- $11,000 at Gucci
- $11,000 at a Four Seasons resort
Shoppers now says it has an equity shortfall and is suing to reclaim the money lost plus interest. It alleges the pharmacist broke his contractual obligations, breached their trust, and unjustly enriched himself at the company’s expense.
No response to the claim has been filed yet. Shoppers’ representatives visited the BC Supreme Court on Thursday to submit an application to the presiding judge. The allegations have not been proven in court.