Toronto– 501159 Ontario Limited o/a Executive Worldwide Travel (Executive Worldwide) and Zakaria Sheikh each pled guilty and were convicted of  2 counts of failing to hold customer funds in trust, contrary to section 27(6) of Ontario Regulation 26/05 made under the Travel Industry Act, 2002 (the Act).  The following sentence was imposed in relation to both counts:

Zakaria Sheikh:

  1. Fine in the amount of $7,000 plus Victim Surcharge Fees, for a total of $8,750;
  2. Probation Order for 2 years;
  3. Free Standing Restitution of $39,735.38 payable to TICO.

Executive Worldwide Travel:

  1. Restitution, in the amount of CAD$13,656.77 and USD$2,290.85 payable to TICO.
  2. Fine of $5,000, per count, for a total of $10,000 plus Victim Surcharge Fees.

Zakaria Sheikh was Manager and President of Executive Worldwide, a registered travel agent under the Act, which voluntarily terminated its registration effective July 13, 2015. The Ontario Travel Industry Compensation Fund paid $56,390.10 to reimburse consumers who paid Executive Worldwide for travel services not provided.  Zakaria Sheikh and Executive Worldwide operated in Ottawa and elsewhere in Ontario.

Formed in 1997, TICO is a not-for-profit corporation wholly financed by Ontario-registered travel agents and wholesalers.  It administers the Travel Industry Act, 2002 and the Ontario Travel Industry Compensation Fund.  TICO may be contacted at (905) 624-6241 or 1-888-451-TICO.  Visit TICO’s website at or email TICO at This email address is being protected from spambots. You need JavaScript enabled to view it.




For More Information, Media Please Contact:

Mr. Richard Smart, President & C.E.O. or Dorian Werda, Vice President, Operations
Tel: (905) 624-6241 / Toll Free: 1-888-451-TICO