A Toronto man is facing a series of charges after an investigation was launched in to fraudulent bankruptcy activity.
It’s alleged a man obtained credit cards from local banks by submitting fraudulent income information on the credit application.
Around the same time, it’s alleged a chequing account was opened at an institution.
Although the account was dormant, with almost no funds, a series of cheques were written to creditors from the account to increase the amount of credit made available to the suspect.
Before the cheques were returned NSF, it’s alleged the credit was used to cover large purchases and cash advances, both in Canada and overseas.
Sanmugarajah Nadarajah has been charged with:
-Fraud over $5,000
-Two counts of obtain Credit by Fraud
-Conspiracy to Commit Fraud
-Refuse or neglect to answer fully and truthfully, contrary to the Bankruptcy and Insolvency Act
-Knowingly Make a Material Omission or False Statement, contrary to the Bankruptcy and Insolvency Act
The 56 year old is due to appear in court next month.