A Toronto man has been sentenced to five years in prison after claiming nearly $1 million in GST and HST refunds that he was never entitled to

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A Toronto man has been sentenced to five years in prison after claiming nearly $1 million in GST and HST refunds that he was never entitled to.

The Canada Revenue Agency says Alexander Wiafe — who was convicted of fraud over $5,000 — also was fined $96,000 and faces an additional 18 months in custody if the fine isn’t paid within five years of his release.

According to the CRA Wiafe filed eight quarterly HST/GST returns under Wiafco Industries Ltd. which he is the sole director and shareholder.These refunds that he was claiming under his company were for purchases that were either fictitious or not incurred by the company.

It says Wiafe claimed a total of $997,842 in refunds and received two refund payments totalling $106,057, which he used both for personal expenditures and also to further the fraud.

In fact, the CRA says Wiafco’s invoices and banking records were falsified, and Wiafe paid for leasing the business premises and equipment with the refunds he received from filing his first two fraudulent returns.

Read the full story over at the Toronto Star.

This story was summarized by Canadian Fraud News Inc.