Toronto woman charged with bankruptcy fraud

By HUB SmartCoverage Team on January 25th, 2018

A Scarborough woman who filed for bankruptcy in 2015 has been charged by the Integrated Bankruptcy Enforcement Unit (IBEU) which includes members of the Royal Canadian Mounted Police (RCMP) and the Office of the Superintendent of Bankruptcy (OSB).

61-year-old Umathevy Catherine Ranjith is set to appear in a Toronto courtroom tomorrow to “face one charge of Fraud over $5000 and six charges of Obtaining Credit by False Pretence contrary to the Criminal Code of Canada.”

When the OSB discovers individuals who have taken advantage of the bankruptcy system, they move quickly. Ranjith failed to comply with regulatory duties under the Bankruptcy & Insolvency Act. Duties include being completely honest about personal finances, possessions, assets, property, etc.

“Offenders are identified by the OSB detection programs or through complaints from creditors, trustees, or the general public.”

43 individuals and four corporations have been charged by the IBEU for bankruptcy related offences since January 2014; plus, another 137 charges have been filed under the Criminal Code of Canada  with liability damages worth approximately $109 million.

The RCMP has this message:

Should members of the public have any information related to bankruptcy fraud schemes they are urged to contact either the Ontario RCMP at 1-800-387-0020, the Office of the Superintendent of Bankruptcy at 1-877-376-9902 or anonymously through Crime Stoppers at 1-800-222-8477.

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