Former New Brunswick Premier Shawn Graham. REUTERS/Paul Darrow
Former New Brunswick premier Shawn Graham has quit politics after a report found he broke conflict of interest laws.
Graham, who served as premier from 2006 to 2010, stepped down Friday from his position as a Liberal MLA for Kent.
He violated conflict of interest rules when his government awarded a $50-million loan guarantee to constriction company Atcon in 2009, according to a report by Patrick Ryan, the provincial conflict of interest commissioner, released on Monday.
Graham's father was a director of Vanerply, Atcon's Swedish subsidiary, and worked as a paid consultant for the company.
The Liberal bailout didn't help Atcon, anyway. The company went bankrupt in 2010.
Ryan fined Graham $3,500, which he has promised to pay.
Graham, 45, has been a provincial politician since he was first elected to the legislature in 1998.
After he lost the 2010 provincial election, he resigned as Liberal leader.