TORONTO — Following a lengthy trial, MKI Travel and Conference Management Inc. (MKI) was found guilty of two counts of failing to deposit customer funds in the trust account, contrary to section 27(3) of Ontario Regulation 26/05 made under the Travel Industry Act, 2002.

The company was also found guilty of failing to seek the Registrar’s consent to open a second trust account, in advance, contrary to section 27(4) of the Regulation.

MKI was found not guilty of failing to keep customer funds in the trust account, contrary to section 27(6) of the Regulation.

The sentencing in this matter is set for Nov. 23, 2015, at 1:30 pm, in Courtroom 1, Ontario Court of Justice, Ottawa, 100 Constellation Drive.

Ronald Greenwood, President, Shareholder and Director of MKI, was acquitted of all charges.

MKI Travel and Conference Management Inc. operated in Ottawa and elsewhere in Ontario. The Ontario Travel Industry Compensation Fund paid claims in excess of $2 million related to the closure of MKI in May 2013.

TICO has 30 days to appeal the decision.