reply to oh LOOK
Re: The Billion Dollar Defferal Account. Part Deux
said by oh LOOK :Giving false testimony/evidence to the CRTC should be a criminal matter, for it most often results in a financial fraud perpetrated on the Canadian people. It should be subject to extra harsh penalties (mandatory minimums anyone?).
Hmm, Maybe the title of this topic should be:
How to lie to both the CRTC and federal cabinet to steal half a billion dollars? What do you think?
In the USA there is The Racketeer Influenced and Corrupt Organizations Act, commonly referred to as the RICO Act or simply RICO. It is a United States federal law that provides for extended criminal penalties and a civil cause of action for acts performed as part of an ongoing criminal organization. The RICO Act focuses specifically on racketeering, and it allows for the leaders of a syndicate to be tried for the crimes which they ordered others to do or assisted them, closing a perceived loophole that allowed someone who told a man to, for example,
murder lie to Congress or some federal or other body for fraudulent purposes, to be exempt from the trial because he did not actually do it.
In Canada there are a number of laws which, collectively, have the same net effect as RICO in the USA.
For example, a serially lying incumbent committing financial fraud via false testimony/evidence fits the definition precisely. hose doing the testifying, as well as their superiors, should be subject to penalties under Canada's statutes.
I've said this before:
»Re: Bell Canada's financials and UBB
What *is* galling about this is that Bell and all its officers have a legal responsibility to provide accurate information to the investing public (via the analysts) during these conference calls. There are financial and possible criminal sanctions for not doing so.
Yet these same cretins can stand before the CRTC and spout falsehood after falsehood without repercussions, or if there are possible repercussions that they are never enforced.
It's high time for all testimony before the CRTC to be sworn under oath, with severe penalties for false/misleading statements.
1) Corporate Death Penalty - ignore a CRTC ruling once, get fined $1mm/DAY; ignore the same or another ruling twice, get fined $10MM/DAY retroactive to the date of the first ruling; ignore a new or the same ruling a third time, the corporation's charter is cancelled and corporation is placed in receivership - shareholder's equity wiped out, corporation executives & directors placed on trial for contempt/fraud with all penalties payable personally.
I also suggested a letter-writing campaign to the CRTC of something similar to the following:
»An Open Letter to the CRTC
In prior hearings and submissions by Bell regarding throttling, usage-based billing, net neutrality, and equal speed access, the citizens of Canada and the CRTC have been treated with misinformation, false information, incomplete information, innudendo, false characterization, and contempt by Bell.
Canadians are tired of corporate interests running roughshod over a process which DEMANDS complete disclosure to ensure that decisions are not made in a vacuum with a paucity of facts or indeed alleged facts; that those decisions are made with the interests of adequate competition in Canada; and that the companies making representations before the Commission are prepared to do so in all honesty, without shading the facts, and under the potential penalty of perjury and massive financial penalties for presenting false or misleading information.
Decisions made by the CRTC in the ADSL-CO matter will colour the telecommunications landscape in Canada for years and may well drive independent ISP's out of business. It is for this reason that all testimony before the Commission be made as reliable as it can be.
In the interests of propriety in this matter and to ensure that the CRTC does not fall into further disrepute, I respectfully request that the CRTC require all participants in the upcoming ADSL-CO hearings to give their testimony and all written submissions under oath.
Signed: ( your name here )
cc: Your MP's name here
cc: The editorial departments of
The Toronto Star
The Globe & Mail
The National Post