Former TC Energy Executive Surrenders Millions in Assets to Settle Fraud Lawsuit
Calgary, Wednesday, 19 August 2026.
Former TC Energy manager Rick Urbanczyk agreed to forfeit over $3 million in assets—including a Calgary home and golf membership—to settle claims he misappropriated corporate funds shortly after being hired.
Settlement Overview and Corporate Governance
Former TC Energy Corp. (TRP) manager Rick Urbanczyk has agreed to pay more than $3 million in damages to resolve a legal dispute alleging the misappropriation of company funds [1]. The settlement highlights ongoing corporate governance and financial compliance risks within major North American energy infrastructure firms [1]. This resolution emphasizes the heightened legal and internal audit scrutiny facing executive management in the sector as of August 2026 [1].
Employment Timeline and Allegations
On March 1, 2021, TC Energy subsidiary TCPL hired Urbanczyk as Director of Real Estate and Property Management, granting him oversight of North American lease arrangements and land transactions [1]. TC Energy filed a lawsuit alleging Urbanczyk diverted at least $2,566,200 in funds owed to the company or its subsidiaries shortly after his hiring [1]. The timeline indicates the alleged misconduct occurred during the period following his 2021 start date leading up to the legal action [1].
Asset Forfeiture and Judgment Details
Court of King’s Bench applications judge Jim Farrington signed a consent judgment requiring Urbanczyk to pay $3,040,371.87 in property value plus $100,000 in costs to TC Energy [1]. The total financial obligation amounts to 3.140 million [1]. Settlement assets include a home in Tower Ridge Estates in Calgary, a private membership at Mickelson National Golf Club valued over $50,000, and a prepaid lease for a 2026 Ford F-150 with an $85,000 constructive trust [1].