A former Portage La Prairie textile plant owner has pleaded guilty to fraud involving nearly $3 million in Manitoba government loans in the 1990s.
Balu Kuriya, 67, will be sentenced later this month. The Crown is seeking a lengthy jail sentence, while Kuriya will ask for a conditional sentence allowing him to remain free in the community.
Kuriya, who now lives in Ontario, has been on bail since his 2004 arrest.
Calwest was to buy a vacated Portage soup plant for $1 and then upgrade and refit it for textile work, borrowing from the province.
RCMP allege Calwest submitted fraudulent invoices to reflect fictitious equipment purchases and facility upgrades to secure at least $2.8 million in loans under the Manitoba Industrial Opportunities Program and the Manitoba Industrial Recruitment Initiative.
Calwest was placed in receivership in February 1998 and later fell into bankruptcy. At the time, the company's total liabilities amounted to $12.1 million.
-- Staff
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