Ronald Greenwood Sentenced To 18 Months + $2M In Restitution
Bruce Parkinson, Open Jaw
One-time ACTA President and Algonguin Travel Founder Ronald Greenwood has been sentenced to 18 months of jail and ordered to pay restitution of $2,036,933 to the Ontario’s Travel Compensation Fund in relation to the failure of MKI Travel and Conference Management Inc.
The failure resulted in a more than $2M claim against the Fund, the largest single claim in the history of the Fund that is administered by the Travel Industry Council of Ontario.
Greenwood was found guilty of:
Two counts of failing to prevent MKI from committing an offence of failing to deposit trust funds into the trust account;
One count of failing to prevent MKI from committing an offence of failing to obtain the Registrar’s consent in advance of opening a second trust account.
Based in Ottawa, MKI was a registered travel agent and wholesaler whose registration was voluntarily terminated effective 13MAY, 2013. TICO describes Greenwood as “a director and the guiding mind of MKI.”
Bruce Parkinson Editor-in-Chief
An observer and analyst of the Canadian and international travel industries for over 25 years.