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 Tanveer Baber, 55, of Mississauga, Ontario, with offences under the Criminal Code (CC) and the Bankruptcy and Insolvency Act (BIA): three counts of false statement in writing to obtain credit, one count of fraudulent disposal of property, and two counts of disposal of property obtained on unpaid credit.
Police allege that Baber obtained a significant amount of credit through fraudulent means, disposed of assets he obtained on credit, and then attempted to use the bankruptcy process to absolve himself of his financial responsibilities. At the time of his assignment into bankruptcy, he owed $702,951 to his creditors.
IN the second case, Firoza Babar, 56, (no relative of Tanveer Baber), of Mississauga, Ontario, was charged with offences under the Criminal Code (CC) and the Bankruptcy and Insolvency Act (BIA): false statement in writing to obtain credit, make a false entry or material omission in a statement, and disposal of property obtained on unpaid credit.
It is alleged Babar attempted to use the bankruptcy process to absolve herself of $585,470.25 of debt, a significant amount of which had been fraudulently obtained.
The RCMP and the OSB Special Investigation Units said they 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.