TORONTO, Dec. 13, 2017 /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, Ontario resident with offences under the Bankruptcy and Insolvency Act.
Yatrn AL-ZAYA, age 29, of Toronto, Ontario will appear at Old City Hall Courthouse, Toronto, Ontario on December 14, 2017, where he will face charges with respect to the bankruptcy process.
Mr. AL-ZAYA is charged with:
- Fraudulently concealing or removing property Bankruptcy and Insolvency Act
- Fraudulently disposing of property Bankruptcy and Insolvency Act (x2)
- Making a false entry or knowingly making a material omission in a statement or accounting Bankruptcy and Insolvency Act
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 bankruptcy process 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.
Since January 2014, the Integrated Bankruptcy Enforcement Unit has charged 40 individuals and four corporations with 175 offences under the Bankruptcy and Insolvency Act and 130 offences under the Criminal Code encompassing liabilities of approximately $109 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, the Office of the Superintendent of Bankruptcy 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: Cpl. Louise SAVARD, RCMP Media Relations, RCMP "O" Division, 905-876-9709