N.W.T. RCMP seek Canada-wide warrant for owner of Deepak International
Toronto businessman Deepak Kumar wanted on fraud charges related to million-dollar loan
RCMP are trying to track down the owner of Deepak International, who faces fraud charges in relation to a million-dollar loan that allowed him to purchase two abandoned diamond cutting and polishing plants from the Northwest Territories government.
Police allege Deepak Kumar misrepresented assets to secure the loan. He's been charged with fraud over $5,000, obtaining credit by fraud and creating false statements to obtain financing.
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Now RCMP are asking the N.W.T.'s public prosecution office to apply for a Canada-wide warrant for Kumar, who is believed to be outside the country.
RCMP would not say where they believe him to be, except that emails and information from other sources suggest he is not in Canada.
The Canada-wide warrant needs to be issued by an N.W.T. Supreme Court judge before RCMP can start applying for an extradition order, which would force Kumar to return to Canada.
RCMP Cpl. Shawn King says Kumar has indicated he may come back willingly to face charges.
King said he has personally had brief email contact with Kumar.
"He was quite vague on the details about when he might be returning," said King.
RCMP investigate complaint
RCMP say their investigation began in 2015 as a result of a complaint from Callidus Capital Corp., a Toronto lender of last resort.
To secure the financing to purchase the diamond cutting plants, Deepak offered Callidus $10 million worth of diamond cutting and polishing equipment he said he had. He showed Callidus a bill of sale for the equipment, but never showed the firm the equipment itself.
Callidus has since won a $4.5 million judgment against Deepak, for not living up to the terms of the financing agreement.
RCMP say they have not been able to locate the diamond cutting equipment put up as security for the loans.
With files from Richard Gleeson