TICO has advised that Simon Shiva Bala, former Conquest Vacations Vice President, CFO and shareholder and Conquest Vacations Inc. have been charged under the Ontario Travel Industry Act, 2002.
Conquest Vacations Inc. has been charged with 1 count of failing to maintain trust accounting contrary to section 27 of the act.
Simon Bala and Conquest Vacations Inc. were also charged with 1 count each of failing to maintain the minimum working capital required contrary to section 24 of the Regulation.
Their first court appearance is scheduled for July 14th, 2010 at 3:00 p.m. at the Ontario Court of Justice Old City Hall, Toronto, Ontario.
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