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Advisor guilty of tax fraud sentenced to three years in jail

July 27, 2021 – An advisor who previously received a conditional sentence for failing to report his commissions to the Canada Revenue Agency (CRA) has been sentenced to three years of jail time following an appeal.

Joern Scholz, also known as John Scholz, of Port Carling, Ont., was sentenced to three years’ imprisonment this month following the CRA’s successful appeal of his conditional sentence that was imposed in 2019, the CRA said in a release on Wednesday.

That year, Scholz was found guilty of one count of fraud over $5,000 under the Criminal Code for the evasion of federal income tax and goods and services tax/harmonized sales tax (GST/HST).

Scholz operated an investment counselling business and didn’t report on his 2011–2013 tax returns the commissions he received from his clients, the CRA had found during an investigation. investmentexecutive.com reports. | READ MORE