TORONTO, Sept. 30, 2015 /CNW/ - The Integrated Bankruptcy Enforcement Unit comprised of the Royal Canadian Mounted Police (RCMP) – Greater Toronto Area (GTA) Financial Crime Section and the Ontario Region Special Investigation Unit (SIU) of the Office of the Superintendent of Bankruptcy (OSB), have charged a Toronto man with offences under the Bankruptcy and Insolvency Act (BIA). 54 year old Ari Jonathan FIRESTONE will appear at Old City Hall, Ontario Court of Justice in Toronto October 2nd where he faces numerous charges in relation to the abuse of the bankruptcy process.
This investigation began June 2014 in response to concerns raised by victim creditors. It is alleged that Mr. FIRESTONE, dishonoured or otherwise misappropriated payments to creditors.
Ari Jonathan FIRESTONE is charged with:
- Make a false entry or knowingly make a material omission in a statement or accounting (1 count) of the Bankruptcy and Insolvency Act (BIA)
- Obtain credit or property by false representation (1 count) of the Bankruptcy and Insolvency Act (BIA)
- Undisclosed Bankrupt engaging in business or obtaining credit (1 count) of the Bankruptcy and Insolvency Act (BIA)
The bankruptcy system is intended to afford a fresh start 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. Offenders are identified by the OSB detection programs or through complaints from creditors, trustees or the general public.
Since January 2014, the Integrated Bankruptcy Enforcement Unit has charged 19 individuals and three corporations with 111 offences under the Bankruptcy and Insolvency Act and 89 offences under the Criminal Code encompassing liabilities of approximately $100 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.
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