Charges Laid in Bankruptcy Fraud Investigation

TORONTO, March 3, 2016 /CNW/ - The Integrated Bankruptcy Enforcement Unit comprised of the Royal Canadian Mounted Police (RCMP) – Greater Toronto Area (GTA) Financial Crime Section and the Ontario Region Special Investigation Unit (SIU) of the Office of the Superintendent of Bankruptcy (OSB), have charged a Markham resident with offences under the Criminal Code (CC) and the Bankruptcy and Insolvency Act (BIA).

Munir DARMO, 41, will appear at Old City Hall, Ontario Court of Justice in Toronto on March 4th 2016, where he will face charges in relation to fraud and the abuse of the bankruptcy process.

It is alleged that prior to applying for bankruptcy Mr. DARMO obtained credit cards from Canadian financial institutions by submitting fraudulent income information. Mr. DARMO allegedly wrote and deposited cheques to his credit card accounts which were subsequently returned due to non-sufficient funds.

Furthermore, Mr. DARMO is alleged to have failed to answer fully and truthfully all proper questions at an examination conducted by an Official Receiver of the OSB and made a material omission in his statement of Affairs.

Mr. DARMO has been charged with:

  • Fraud over $5,000 contrary to the Criminal Code (CC).
  • Two counts of obtain credit by false pretence contrary to the Criminal Code (CC).
  • Refuse or neglect to answer fully and truthfully all proper questions at an examination contrary to the Bankruptcy and Insolvency Act (BIA).
  • Make a false entry or knowingly make a material omission in a statement or accounting contrary to the Bankruptcy and Insolvency Act (BIA).

The bankruptcy system is intended for the honest but unfortunate debtor.  However, there are instances where individuals abuse the system by failing to comply with their duties under the BIA and/or engaging in fraudulent criminal activities. Offences are identified through detection programs or through complaints from creditors, the trustee-in-bankruptcy or the public.

Since January 2014, the Integrated Bankruptcy Enforcement Unit has charged 25 individuals and four corporations with 135 offences under the Bankruptcy and Insolvency Act and 100 offences under the Criminal Code encompassing liabilities of approximately $105 million.

Should members of the public have any information related to bankruptcy fraud schemes they are urged to contact either the Ontario RCMP at 1-800-387-0020 or the OSB at 1-877-376-9902 or anonymously through Crime Stoppers at 1-800-222-8477.

Website:   RCMP in Ontario
Twitter:      @RCMPONT
Facebook:  RCMP.Ontario
YouTube:  RCMPGRCPOLICE 

SOURCE Royal Canadian Mounted Police

For further information: For media inquiries contact: Sgt. Penny HERMANN, RCMP Media Relations, RCMP "O" Division, 905-876-9571, http://www.rcmp-grc.gc.ca/on/index-eng.htm

RELATED LINKS
http://www.rcmp-grc.gc.ca/

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