I am here, thanks for letting me know about this forum. I can not believe they would shut down the SH site. Now I know what it feels like to live in a Country that censors the masses. On the bright side we are obviously having an impact.Hopefully the warrant is being written for the documentary evidence that management is likely attempting to shred or delete. Got them on the run keep it up.
Has anyone lodged a complaint with RBC? I am sure senior management is not even aware of this deal or aware the negative hit they may take if they are seen as co-conspirators to this fraud.
I have copied the first portion of the last post I made on SH for those who missed it. Has anyone considered emailing Tony Wong the author he may be willing to take on the case. Maybe someone in Toronto who can go see him if he is at all interested.
Cinsco
The Law of Fraud
and White Collar Crime
in Canada
Tony Wong
Partner
416.863.2180
tony.wong@blakes.com
Blake, Cassels & Graydon LLP
199 Bay Street, Suite 2800
Commerce Court West
Toronto, ON M5L 1A9
www.blakes.com
The Law of Fraud and White Collar Crime in Canada
Tony Wong, Blake, Cassels & Graydon LLP1
INTRODUCTION
In the aftermath of the corporate scandals of the early 21st century, the criminal
law is increasingly being viewed by public authorities in Canada as a viable and
appropriate tool for addressing wrongdoing in the corporate world. In 2004, the
government of Canada passed sweeping amendments to the Criminal Code to
specifically address “white collar crimes”. Among other things, these amendments
expanded the scope of potential criminal liability for “organizations”, established new
criminal offences relating to conduct that affects capital markets, expanded powers for
law enforcement agents to investigate “white collar” crimes and imposed harsher
sentences for those businesses – and their directors, officers and employees –
convicted of wrongdoing. In addition, the Royal Canadian Mounted Police has
established Integrated Market Enforcement Teams (“IMETS”) -- with participants from
multiple agencies and multiple jurisdictions -- for the purpose of deterring criminal
securities fraud and ensuring that those who commit such acts will face a real risk of
being detected and prosecuted.
With these clear indications that public authorities in Canada will be using the
criminal law to punish wrongdoing in the corporate world, it is important to be familiar
with what has often been referred to as the “workhorse” offence in the Criminal Code
when it comes to white collar crimes – the offence of fraud. The offence of fraud not
only sanctions acts that involve false or misleading statements but, more generally, acts
that a reasonable person would consider to be “dishonest”. For liability to arise, the
“dishonest” acts need not result in actual deprivation to a member of the public. The
mere risk of deprivation is sufficient. The acts need not have been carried out with
“actual knowledge” that they are dishonest or that they would result in the risk of
deprivation. Rather, proof that the acts were carried out recklessly or with wilful
blindness will be sufficient to establish liability for fraud.
To those who operate in a corporate world where principles such as caveat
emptor, freedom of contract, and the advancement of self interests are well-accepted,
the broad scope of the offence of fraud appears to be a serious obstacle to “doing
business”. In some respects, the criminal law of fraud and its active enforcement by law
enforcement agents will impose limits on how business is conducted in this country.
However, a familiarity with the law of fraud, and when liability for this offence arises, will
ensure that in most cases business can proceed as usual without a significant risk of
liability for fraud.
1 Tony Wong is a Partner at Blake, Cassels & Graydon LLP. |
