NEWMARKET, ON, May 22, 2014 /CNW/ - The RCMP Toronto North Financial Crimes Unit in collaboration with the Ontario Region Special Investigation Unit of the Office of the Superintendent of Bankruptcy (OSB), have charged two corporate directors with offences under the Bankruptcy and Insolvency Act (BIA) and the Criminal Code (CC).
Sasan MANOUCHEHRI, age 37, of Richmond Hill has been charged with the following offences:
- s. 198(1)(a) BIA - Fraudulent Disposition of Bankrupt's Property
- s. 198(1)(f) BIA - Fraudulent Concealment or Removal of Bankrupt's Property
- s. 198(2) BIA - Failure to Comply with Duties of a Bankrupt
- s. 199 BIA - Engage in Trade & Fail to Disclose Undischarged Bankruptcy
- s. 362(1)(a) CC - False Pretenses Over $5000
- s. 380 CC - Fraud Over $5000
in relation to events surrounding the October 2012 bankruptcy of 1780341 ONTARIO INC. which carried on business as Wasaga Beach sportswear vendor, CASA PLAYA (Link to Photo).
Also charged with s. 201(1) BIA - False Claim by Creditor is Hashim ISPAHANY, age 69, of Richmond Hill.
The allegations relate to unpaid purchases of beachwear from several national distributors, the misappropriation of sales proceeds at the storefronts, the disappearance of store inventory, and other abuses of the bankruptcy process. Over 40 creditors, many represented by the SPORTS INDUSTRY CREDIT ASSOCIATION in Montreal, were left unpaid approximately $956,000 in large part from MANOUCHEHRI's dishonoured cheques.
The matter is scheduled for first appearance at the Ontario Court of Justice in Newmarket on May 23, 2014.
If anyone has information in regards to this bankruptcy they are asked to contact the Ontario RCMP at 1-800-387-0020 or anonymously through Crime Stoppers at 1-800-222-TIPS (8477).
The RCMP and the OSB Special Investigation Units 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 "O" Division