The RCMP have charged Garth Drabinsky and Myron Gottlieb, the co-founders of the theatre company Livent, with 19 counts each of fraud following a four-year investigation into the company.

The RCMP alleged that the two accused defrauded creditors and investors of about half a billion dollars between Dec. 14, 1989, and June 23, 1998.

Drabinsky and Gottlieb both face charges of fraud over $5,000.

The accused surrendered to authorities on Tuesday morning and were freed on bail.

Drabinsky’s lawyer Edward Greenspan said his client will plead not guilty to the charges.

The pair also face an investigation by the Ontario Securities Commission. The OSC alleged in July of 2001 that Livent issued “misleading or untrue statements” in its financial reports. The next hearing in the long-running and often-delayed case is set for November 1.