Charges laid in bankruptcy fraud investigation
09 Jun, 2016, 08:00 ET
TORONTO, June 9, 2016 /CNW/ - The Integrated Bankruptcy Enforcement Unit comprised of the Royal Canadian Mounted Police (RCMP) –and the Office of the Superintendent of Bankruptcy (OSB), have charged a Toronto resident with offences under the Criminal Code (CC) and the Bankruptcy and Insolvency Act (BIA).
Vivian SHABO, age 40, will appear at Old City Hall, Ontario Court of Justice in Toronto on June 10th, 2016, where she will face charges in relation to fraud and the abuse of the bankruptcy process.
The Integrated Bankruptcy Unit began their investigation of Ms. SHABO in January, 2014. At the time of her bankruptcy, she reported having $2,000 in assets and approximately $339,000 in liabilities. It is alleged that she obtained a substantial amount of credit by providing false income information on credit card applications, negotiating fraudulent cheques, and further depleting credit accounts with the intention of defrauding her creditors.
Ms. SHABO has been charged with:
- Fraud over $5,000 contrary to the Criminal Code of Canada;
- Obtain credit by fraud contrary to the Criminal Code of Canada (5 counts);
- Conspiracy to commit indictable offence contrary to the Criminal Code of Canada;
- Refuse or neglect to answer fully and truthfully all proper questions at an examination contrary to the Bankruptcy and Insolvency Act (BIA).
- Fraudulent disposition of the bankrupt's property contrary to the Bankruptcy and Insolvency Act (BIA).
- Make a false entry or knowingly makes a material omission in a statement or accounting contrary to the Bankruptcy and Insolvency Act (BIA).
The bankruptcy system is intended for the honest but unfortunate debtor. However, there are instances where individuals abuse the system by failing to comply with their duties under the BIA and/or engaging in fraudulent criminal activities. Offences are identified through detection programs or through complaints from creditors, the Licensed Insolvency Trustee or the public.
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 27 individuals and four corporations with 140 offences under the Bankruptcy and Insolvency Act and 111 offences under the Criminal Code encompassing liabilities of approximately $106 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
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
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