Bruno Ciaburro, 43, and Julie Paquette, 39, both from St. Bruno, have been arrested by the RCMP Major Fraud Unit after allegedly obtaining loans worth over $10 million from Industry Canada based on fraudulent documentation.
The duo are accused of using newly-created or inactive corporate entities and then finding shareholders for the companies, all the while retaining control over the companies, which eventually declared bankruptcy after receiving loans.
Ciaburro and Paquette are to appear in Longueuil courthouse on October 16 to face charges of fraud exceeding $5,000 as well as making and using false documents.
Ciaburro was also sentenced to 40 months in prison last July after pleading guilty of defrauding CIT Financial Services of $4.5 million. He also committed a fraud of over $3 million in 1997-1998.
