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 of the Office of the Superintendent of Bankruptcy (OSB), charged the following individual with offences under the Criminal Code and the Bankruptcy and Insolvency Act (BIA). The allegations all relate to fraud and the abuse of the bankruptcy process.
Jagprit Singh Raju BHATIA, age 41, of Toronto, Ontario has been charged with one count under section 362 of the Criminal Code; ‘knowingly making a false statement’. Furthermore, Mr. BHATIA is charged with three counts of ‘making a material omission in a statement’, Sec. 198(1) (c) BIA, and two counts of ‘failure in duties of a bankrupt’, Sec.198(2) BIA.
The matter is scheduled for first appearance at Ontario Court of Justice – Old City Hall in Toronto on July 26th, 2013.
The RCMP and the OSB Special Investigation Units will continue to combine their efforts to investigate allegations of criminal wrongdoing related to bankruptcy and insolvency matters in order to protect the integrity of the insolvency system in Canada.
During this investigation, the Greater Toronto Area Financial Crime Section had been assisted by the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC), who provided disclosures which contributed to the success of this investigation.