SEVERAL INDIVIDUALS CHARGED WITH FRAUD RELATING TO VOLUNTARY BANKRUPTCY
PROCESS

TORONTO, Oct. 14 /CNW/ - The Royal Canadian Mounted Police - Greater Toronto Area Commercial Crime Section in partnership with the Toronto Office of the Superintendent of Bankruptcy, charged several individuals with offences under the Bankruptcy and Insolvency Act and the Criminal Code.   The allegations all relate to fraud and the abuse of the Bankruptcy process and are three separate investigations.

Jetchko Vassilev RANGUELOV, 49 years of age, of Park Street, Toronto was charged on September 16th, 2010 and is scheduled to appear in court on Friday October 15^th, 2010 at Old City Hall Courthouse in Toronto. He is facing seventeen Criminal Code charges and eighteen charges under the Bankruptcy and Insolvency Act.

Edith Clarissa Cecile Mary WRIGHT (who also uses the surname BARKER) 48 years of age, of Penetanguishene, Ontario was charged on September 17^th, 2010 and is scheduled to appear in court on October 27^th, 2010 at Barrie Courthouse, Barrie, Ontario. She is facing two Criminal Code and one Bankruptcy and Insolvency Act charge.

Nagendram SANKAR, 34 years of age, of North York, Ontario was charged on September 24^th, 2010 and is scheduled to appear in court on October 22^nd, 2010 at Old City Hall Courthouse in Toronto. He is facing five Criminal Code and nine Bankruptcy and Insolvency Act charges.

With the ongoing co-operation between the RCMP and the Office of the Superintendent of Bankruptcy (OSB) we continue to investigate allegations of breaches of the Bankruptcy and Insolvency Act and the Criminal Code as they pertain to the Canadian Insolvency process. The RCMP will enforce the provisions of the Criminal Code when appropriate and 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/Insolvency Process and the economic stability of Canada.

The successful partnership between the OSB and RCMP is working diligently together investigating and responding to these allegations of fraudulent bankruptcies and systemic abuse of the bankruptcy process.

GTA CCS Bankruptcy Unit is located at 345 Harry Walker Parkway South, Newmarket, Ontario.

For further information:

Sgt. Marc LaPorte,
Media Relations Coordinator
RCMP "O" Division
Office: [phone]
Cell: [phone]