RBC cuts ties with Canada's WE Charity following review
- WE Charity disclosed earlier in July that from 2016-2020 it paid honoraria to Trudeau's mother, Margaret, amounting to C$250,000 for speaking at some 28 events
- Trudeau and his wife, Sophie Gregoire Trudeau, have also regularly participated in the charity's events.
Royal Bank of Canada said on Tuesday it reached a mutual agreement to end all sponsorships and donations to Canada's WE Charity, following a review of their partnership.
WE Charity has been at the heart of a controversy after Canada's ethics commissioner launched an inquiry into Prime Minister Justin Trudeau's participation in a Cabinet decision to use the charity he and his family have worked with to administer a C$900 million ($671.74 million) student grant program.
The charity said that it had mutually decided with its Canadian partners to suspend partnerships out of concern for their reputation and investment commitments and had also suspended formal agreements with its school board partners.
WE Charity disclosed earlier in July that from 2016-2020 it paid honoraria to Trudeau's mother, Margaret, amounting to C$250,000 for speaking at some 28 events, while his brother, Alexandre, received about C$32,000.
Trudeau and his wife, Sophie Gregoire Trudeau, have also regularly participated in the charity's events.
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