The board of Peace Arch Entertainment Group Tuesday placed CEO Gary Howsam on administrative leave following his arrest Monday in connection with a U.S. federal investigation into transactions between Comerica Bank and Howsam.
The investigation involves activites prior to Howsam joining Peace Arch CEO in December, 2002. Peace Arch co-chairman Jeff Sagansky has assumed the duties of interim CEO. Peace Arch itself is not a party to the investigation.
Howsam’s employment contract was extended for two years in September, keeping him at the helm of the Toronto-based film and television production and distribution company through September, 2009.
Prior to joining Peace Arch, Howsam was a founder of Greenlight Film and Television.
