Charges laid in bankruptcy fraud investigation

The Integrated Bankruptcy Enforcement Unit comprised of the Royal Canadian Mounted Police (RCMP) – Greater Toronto Area (GTA) Commercial 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 theBankruptcy and Insolvency Act (BIA). The allegations all relate to fraud and the abuse of the bankruptcy process.

Vinh Cuong PHAM, age 57, of Brampton has been charged under the Criminal Code, Sections 380(1)(a) ‘fraud over $5000’ and twice under Section 368(1) ‘uttering forged documents’.  Furthermore, Mr. PHAM is also charged with four additional offences under the Bankruptcy & Insolvency Act. This includes Section 198(1)(b) ‘failure to answer fully and truthfully’, Section 198(1)(c) ‘material omission’, Section 198(1)(g) ‘disposition of property obtained on unpaid credit’, and Section 198(2) and ‘failing to comply with duties as a bankrupt’.

The matter is scheduled for first appearance at Ontario Court of Justice – Old City Hall in Toronto on March 22nd, 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.

SOURCE: Royal Canadian Mounted Police

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