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 Firoza BABAR, age 56, 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
  • s. 198(1)(c) BIA - Make a False Entry or Material Omission in a Statement
  • s. 198(1)(g) BIA- Disposal of Property Obtained on unpaid credit

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

It is alleged Ms. BABAR attempted to use the bankruptcy process to absolve herself of $585,470.25 of debt, a significant amount of which had been fraudulently obtained.

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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