Charges laid in bankruptcy fraud investigation

TORONTO, Aug. 28, 2014 /CNW/ - The Integrated Bankruptcy Enforcement Unit comprised of the Royal Canadian Mounted Police (RCMP) - GTA Financial Crime Section and the Ontario Region Special Investigation Unit (SIU) of the Office of the Superintendent of Bankruptcy (OSB), charged Wilson Chi-Man SHEK, a 50 year old male from Toronto with offences under the Bankruptcy and Insolvency Act (BIA). The allegations relate to fraud and the abuse of the bankruptcy process which is intended for the honest but unfortunate debtor.

  • Section 198(1)(g) Bankruptcy and Insolvency Act (BIA), Fraudulent Disposition of Property Obtained on Credit and Not Paid For (6 counts)

The matter is scheduled for first appearance at the Ontario Court of Justice - Old City Hall in Toronto on August 29, 2014.

This investigation began in January 2014 after the RCMP/OSB SIU received information of possible wrongdoing by Mr. SHEK. It is alleged that Mr. SHEK intentionally exhausted fifteen (15) credit facilities from six financial institutions in a three month period from November, 2012 to January, 2013; just prior to filing for bankruptcy. The investigators believe that Mr. SHEK never intended to repay his creditors. The total loss to SHEK's creditors in relation to the charges is over $180,000.00.

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

The RCMP and the OSB Special Investigation Units will continue to combine their efforts to investigate allegations of criminal wrongdoing related to bankruptcy and insolvency matters in order to protect the integrity of the insolvency system in Canada.

SOURCE: Royal Canadian Mounted Police

For further information:

For media inquiries contact:
Acting RCMP Media Relations Officer
"O" Division (Ontario)
Ph. 519-972-9595  ext. 248

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


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