TORONTO, Jan. 26 /CNW/ - The Royal Canadian Mounted Police – Greater Toronto Area Commercial Crime Section, in partnership with the Toronto Office of the Superintendent of Bankruptcy, recently completed a number of investigations involving offences contrary to the Bankruptcy and Insolvency Act. In these particular investigations it is alleged that property obtained by credit was disposed of to the detriment of creditors, credit was obtained fraudulently, the bankrupts failed to perform their duties as required by statute, the bankrupts refused or neglected to answer truthfully questions put to them during an examination and obtaining credit while an undischarged bankrupt.
The investigations resulted in the following two persons being charged separately as follows:
Mohammed Asghar THANVI, 43, of Havelock Drive, Brampton, with disposing of property obtained by credit, obtaining credit by false representations, fraudulently disposing of property and failing to perform the duties of a bankrupt.
Syed Kamal HOSSEINI-KAMALABADI, 50, of Ballyronan Road, Toronto, with disposing of property obtained on credit, failing to answer fully and truthfully questions at an examination, making a material omission in a statement of affairs, obtaining credit while an undischarged bankrupt and failing to perform the duties of a bankrupt.
An ongoing joint three year pilot project between the RCMP and the Office of the Superintendent of Bankruptcy continues to investigate a number of allegations involving breaches of the Bankruptcy and Insolvency Act. “This partnership will continue to focus its efforts on undertaking criminal investigations where evidence of wrong doing exists. The objective is to maintain confidence in the integrity of the Bankruptcy and Insolvency Process,” stated Inspector Brian Verheul of the RCMP Commercial Crime Unit.
The accused are scheduled to appear in court on January 27th, 2006 at Old City Hall in Toronto.
For further information: Cpl. Michele Paradis, NCO i/c Corporate
Communications and Media Relations, RCMP “O” Division, Cellular:
(416) 992-4409, pager: (416) 715-2375
I would say that 99% of people fall in the obtaining credit by false representations, fraudulently.The RCMP will have it’s hands full if this is the route they are taking.
Mr.Trustee you can say other wise but the fact is people lie we they need money and the credit card companies are aware of this and have the tools to do there DD.People lie to obtain credit thinking they will pay it back and there situation will change.
If it was me in the court going after the big card companies,the judge would say tough luck you should have done your DD instead of relying on what someone said or wrote.
[...] Bankruptcy charges laid. We previously reported bankruptcy charges laid on another matter on our Blog of January 26, 2006. [...]
I replied to Joan on the Ask a Trustee Blog on March 6, 2006 as follows:
Joan: You say that 99% of people obtain credit by misrepresentation. You are just plain wrong on this! I have seen hundreds of people in debt trouble and the vast majority are honest people who have just got over their heads in debt.
Lying to get a credit card? Why would anyone have to do this since it is so easy to get credit cards these days? Even dogs and cats have been issued credit cards!
No matter how you cut it, it is just plain wrong to obtain credit or debt by mispresentation. It is cheating. It is lying. It is deceitful. It is not done by the vast majority of debtors.