Molson Coors Canada has filed a lawsuit accusing former sales director Frank Ivankovic of orchestrating an elaborate embezzlement scheme that allegedly drained nearly $9.1 million from the company through fake vendors and shell corporations. Court filings say Ivankovic abused his internal authority, approved fraudulent invoices, funneled payments back to himself and his wife, and involved outside partners who shared in the financial reward.
Ivankovic is the father of standout University of Michigan goaltender Jack Ivankovic, a 2025 NHL second round pick selected 58th overall by the Nashville Predators. The freshman is off to a historic start at Michigan with 13 wins in 16 starts and early national attention as one of college hockey’s most dominant young players. He is not accused of wrongdoing. The lawsuit concerns his father, who resigned from Molson in October during an internal review.
According to filings in Ontario Superior Court, Molson alleges that Ivankovic approved payments tied to two companies identified as Letz Go and 466 Ontario, which the company claims were controlled by Firkin Hospitality Group president Larry Isaacs and his wife Ellen Bacher. Molson says the companies submitted invoices for services such as event planning. The payments allegedly circled back into personal accounts held by Ivankovic and his wife Kelly O Brien Ivankovic. None of the allegations have been proven in court.
The lawsuit states Ivankovic received $3,655,779 through 63 deposits from Letz Go alone, equal to 50 percent of what Molson was invoiced during those transactions. Investigators also say they discovered an Excel file tracking transfers and text messages between Ivankovic and Isaacs arranging payouts and meetings.
Molson claims the scheme first came to light after a bank questioned more than $276,000 in deposits entering Ivankovic’s personal account. The company says relevant data was deleted during the investigation. Molson is seeking multi-million dollar damages for fraud, conspiracy, breach of fiduciary duty and unjust enrichment.
Isaacs and Bacher deny wrongdoing and their attorney says they consider the claims to be without merit. Attempts to contact Ivankovic and his wife were unsuccessful.
The case now moves forward in the Canadian court system. With one of the brightest young goaltenders in the NCAA connected by proximity, the story is expected to draw continued attention in both Canada and Michigan.
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