TORONTO, Feb. 27, 2014 /CNW/ - The RCMP GTA Financial Crime Unit - Toronto North office in collaboration with the Ontario Region Special Investigations Unit of the Office of the Superintendent of Bankruptcy (OSB), have charged Sanjay Suryakant PATEL, age 45, of Brampton, Ontario with offences under the Criminal Code (CC) and the Bankruptcy and Insolvency Act (BIA) namely:
- s. 380 CC - Fraud Over $5000 (2 counts)
- s. 380 CC - Fraud Under $5000
- s. 362(1)(b) CC - Obtain credit by fraud (2 counts)
- s. 392(a)(i) CC - Disposal of Property to Defraud Creditors
- s. 198(1)(a) BIA - Fraudulent Disposition of Property
- s. 198(1)(b) BIA - Refuse or Neglect to Answer Truthfully at Examination (2 counts)
- s.198(1)(c) BIA - Make False Entry or Material Omission in a Statement (3 counts)
- s. 198(2) BIA - Failure in Duties of a Bankrupt
The investigation began in March, 2013 after the RCMP received information of possible wrongdoing by Mr. Patel. The investigation revealed that in the fall of 2011, Mr. Patel was granted credit using fictitious information on his credit applications. This, in addition to negotiating fraudulent cheques in order to gain additional credit, facilitated the withdrawal of large amount of funds, approximately $160,000, from numerous Canadian financial institutions in the form of cash advances and large purchases. The investigators believe that Mr. Patel had no intent on paying back this money. It is alleged that Mr. Patel concealed and disposed of the fraudulently obtained funds by syphoning the money through third parties, and wiring the money overseas using electronic funds transfers.
A Warrant has been issued for the arrest of Sanjay Suryakant PATEL. The public's assistance is requested in apprehending Mr. Patel by reporting any information regarding his whereabouts to the Ontario RCMP at 1-800-387-0020 or anonymously through Crime Stoppers at 1-800-222-8477. A photo of Mr. PATEL is available from the Ontario RCMP Newsroom.
During this investigation, the RCMP GTA Financial Crime Unit had been assisted by the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), who provided disclosures which contributed to the success of this investigation.
The RCMP and the OSB Special Investigation Unit continue to combine their efforts to investigate allegations of criminal wrongdoing related to bankruptcy and insolvency matters in order to protect the integrity of Canada's financial systems.
SOURCE: Royal Canadian Mounted Police
For further information:
Sgt. Richard Rollings
RCMP Media Relations
"O" Division (Ontario)