Do advisors need to keep tabs on the actions of deceased client's offspring?
A Toronto man has been charged by the RCMP for allegedly collecting almost $200,000 of his deceased mother's Canada Pension Plan (CPP) and Old Age Security (OAS) benefits 15 years after her death.
Bob Mougtoussidis, 70, faces two counts of 'Fraud Over $5,000', two counts of 'Possession of Proceeds of Crime' and two counts of 'Laundering the Proceeds of Crime.'
It is estimated he allegedly collected $197,000 in CPP and OAS payments.
The internal investigation was a combined effort by the RCMP and Employment and Social Development Canada.
The allegations have not been proven in court.
The accused will appear in a provincial court on April 10, 2014.
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