May 11` 12 - Conquest Vacations Inc - Conviction
Toronto – Following an ex-parte trial, Conquest Vacations Inc. has been convicted on one count of failing to maintain trust accounting contrary to section 27 of Regulation 25/05 made under the Ontario Travel Industry Act, 2002. Conquest Vacations Inc. was convicted on one count of failing to maintain the minimum working capital required contrary to section 24 of the Regulation.
Conquest Vacations Inc. was fined $25,000 for each count for a total fine of $50,000.
The charges against Simon Shiva Bala are still outstanding and a trial is scheduled for May 22, 2012 at the Ontario Court of Justice, Provincial Offences Court, 1530 Markham Rd, Toronto, Ontario.
Reference: Michael Pepper, C.E.O. TICO (905) 624-6241