A judge has ordered the CBC to pay over a million dollars after they defamed an investment banker and could not prove otherwise.
The CBC published a story on their own website that detailing what happened. The state broadcaster had defamed Kenneth Wayne Muzik by saying that he purposely gave bad investment advice.
The story also said that a client of the investment banker had lost nearly half his pension as a result of the banker's advice and strategy.
They published this story on television and on their website. The man has since said that it caused him to lose income and affected his personal life.
The couple who got the CBC to report on the banker created a plan where they would secretly record him admitting to unethical conduct. They, however, only showed the CBC snippets of the conversation.
Other tactics that the CBC used was described by the judge as "akin to saying Mr. Muzik [the banker] was a thief."
The CBC has since admitted that "this constituted not only a breach of the CBC's own journalistic standards but also represented the height of irresponsibility when the professional reputation of Mr. Muzik [the banker] was hanging in the balance."
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