Charges laid in bankruptcy fraud investigation

TORONTO, Sept. 3, 2014 /CNW/ - The Integrated Bankruptcy Enforcement Unit comprised of the Royal Canadian Mounted Police (RCMP) - Greater Toronto Area (GTA) Commercial Crime Section and the Ontario Region Special Investigation Unit of the Office of the Superintendent of Bankruptcy (OSB), charged Tanveer BABER, age 55, of Mississauga, Ontario with offences under the Criminal Code (CC) and the Bankruptcy and Insolvency Act (BIA) namely:

  • s. 362(1)(c) CC - False Statement in Writing to Obtain Credit  X 3
  • s. 198(1)(a) BIA - Fraudulent Disposal of Property
  • s. 198(1)(g) BIA - Disposal of Property Obtained on unpaid credit X 2

The matter is scheduled for first appearance at Ontario Court of Justice - Old City Hall in Toronto on September 5, 2014.

It is alleged Mr. BABER obtained a significant amount of credit through fraudulent means, disposed of assets he obtained on credit, and then attempted to use the bankruptcy process to absolve himself of his financial responsibilities.  At the time of his assignment into bankruptcy, Mr. BABER owed $702,951.00 to his creditors.

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:

S/Sgt. Peter Koersvelt,
Media Relations
RCMP "O" Division

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


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