9 charged in alleged Toronto fraud
The Canadian Press
Posted: Nov 2, 2012 4:45 PM ET
Last Updated: Nov 2, 2012 8:41 PM ET
The RCMP have charged nine Toronto area people with a total of 41 fraud related charges.
The Mounties say the total value of the alleged fraud was more than $2 million
It is alleged that between 2008 and 2010 the accused were involved in a scheme where they formed companies and applied for loans at financial institutions under the Canada Small Business Financing Program.
The RCMP says that by submitting fraudulent or forged documents, they secured loans and funding from the banks for equipment and upgrades to leased property.
The Mounties say they collaborated with Industry Canada and were assisted by a number of national banks during their investigation.
The Mounties say the charges include fraud, uttering forged documents, conspiracy, money laundering, possession of proceeds of crime and participating in a criminal organization.
Share Tools
Latest Toronto News Headlines
- Toronto councillors say Ford scandal not over
- One Toronto city councillor says he doesn't believe Rob Ford and that the mayor should resign. And a top Ford supporter says he doubts the scandal is over. more »
- Big-time lobbyists attended pricey Mammoliti bash
- Two of the most powerful lobbyists at city hall attended a $5,000-a-table fundraising soirée involving Coun. Giorgio Mammoliti, CBC News has learned, raising questions about whether all three people followed municipal rules governing their conduct. more »
- Veteran Blue Jays reliever Darren Oliver goes on DL
- The Toronto Blue Jays have placed left-handed reliever Darren Oliver on the 15-day disabled list with a left shoulder strain, while lefty J.A. Happ has also been moved to the 60-day disabled list as he recovers from injuries after taking a ball in the head during a game earlier this month. more »
- Torontonians speak out on Rob Ford controversy
- Ford needs to speak up on allegations surrounding a video purporting to show the mayor smoking crack cocaine, say people asked on the streets of Toronto. more »
Must Watch
Top News Headlines
- Royal Bank pledges not to outsource jobs for cash savings
- Royal Bank has promised it will never outsource a Canadian job to a foreign worker solely to save money. more »
- Washington police blame bridge collapse on Alberta trucker
- Washington State police say an Alberta trucker was responsible for hitting a steel beam precipitating a bridge collapse on one of the busiest routes in the American northwest. more »
- Man accused of killing child in patio crash granted bail
- Emotions ran high in a packed Edmonton courthouse Friday as Richard Suter, accused of causing a crash into a restaurant patio that killed a young boy, was granted bail. more »
- Canada ranks 3rd last in paid vacations
- Canada ranks third last among economically advanced countries in the amount of paid vacation time it guarantees its workers, a new U.S. study indicates. more »
- Executive committee calls on Ford to address crack video allegations
- Rob Ford fired chief of staff for telling mayor to 'get help'
- Toronto Mayor Rob Ford denies using crack cocaine
- Alleged Ford crack video seller not responding to calls
- Toronto Mayor Rob Ford fires chief of staff
- Texting during movie lands complainant in trouble
- Giorgio Mammoliti faces questions over $5,000-a-table event
- 15 teens on school hiking trip found after night in wilderness
- Jimmy Kimmel, Jon Stewart crack jokes about Rob Ford
Toronto traffic with Joan Chang
