The defendants were charged with creating an unauthorized security interest in a credit union contrary to the Credit Unions and Caisses Populaires Act.
They brought a motion to quash the Information, arguing it was laid outside the two-year statutory limitation period.
The court found that the regulatory agency had knowledge of the material facts more than three years before the charge was laid, and that the failure to share this information with the Superintendent in a timely manner frustrated the limitation period.
The motion was granted, the Information was quashed, and the charges were dismissed.
