Charges Laid in Bankruptcy Fraud Investigation

TORONTO, Aug. 18, 2016 /CNW/ - The Integrated Bankruptcy Enforcement Unit comprised of the Royal Canadian Mounted Police (RCMP) and the Office of the Superintendent of Bankruptcy (OSB), has charged a Brampton couple with offences under the Criminal Code (CC). The husband also faces charges under the Bankruptcy and Insolvency Act (BIA).

Ganesvaran VELUPILLAI, age 39, and Tharsini GANESVARAN, age 33, both of Brampton, will appear at Old City Hall, Ontario Court of Justice in Toronto on August 19th, 2016, where they will face charges in relation to fraud and the abuse of the bankruptcy process.

It is alleged that Mr. VELUPILLAI drained his available credit and promptly declared bankruptcy.  When he met with a Trustee, he concocted a bogus story to cover the loss of his income and assets.  It is further alleged that Mr. VELUPILLAI was not insolvent but gainfully employed as a truck driver earning wages that were hidden in undisclosed bank accounts.

Ganesvaran VELUPILLAI and his wife, Tharsini GANESVARAN, have been charged with the following offence contrary to the Criminal Code (CC):

  • Fraud over $5,000.

Ganesvaran VELUPILLAI has also been charged with the following offences contrary to the Bankruptcy and Insolvency Act (BIA):

  • Neglect to answer fully and truthfully questions at an examination under the BIA
  • Make a material omission in a statement or accounting
  • Failure to comply with the duties of a bankrupt

Bankruptcy is a legal process that can provide relief to honest but unfortunate individuals who are unable to pay their debts. Unfortunately, there are individuals who choose to abuse the system and commit fraudulent activity. When this happens, the Office of the Superintendent of Bankruptcy and the RCMP work diligently to identify individuals who fail to comply with their obligations.

Since January 2014, the Integrated Bankruptcy Enforcement Unit has charged 33 individuals and four corporations with 155 offences under the Bankruptcy and Insolvency Act and 119 offences under the Criminal Code encompassing liabilities of approximately $107 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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