A former Mississauga MP has received a six-month conditional sentence and was fined $5,000 in Ontario Superior Court Thursday for claiming a $15 million promissory note as an asset during his bankruptcy proceedings, which he knew was worthless.
Former Mississauga-Streetsville MP Wajid Ali Khan has received a six-month conditional sentence and was fined $5,000 in Ontario Superior Court on Thursday for claiming a $15 million promissory note as an asset during his bankruptcy proceedings, which he knew was worthless.
His co-accused, Nadeem Ahmed, was sentenced last year to two-and-half years in prison after being found guilty of two counts of fraud over $5,000 and using a forged document. Khan, who testified at Ahmed’s trial, told court Thursday that meeting him was a “terrible mistake.” Khan later learned he’d been duped and in January 2015 reported to the Toronto police that he had been defrauded of millions of dollars. Within a few days, Khan filed for bankruptcy and, as required, listed his assets and liabilities. Three men were listed as creditors. One of the assets was the $15 million promissory note from Ahmed, “notwithstanding that it was of no value,” the court document said.
She called it a “significant aggravating factor” that he went to police suggesting he had been defrauded by Ahmed but then, days later, provided the $15 million note in bankruptcy filings.
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