< Vancouver stock promoter charged with tax fraud - Canadian Fraud News Inc. | Fraud related news | Fraud in Canada

Vancouver stock promoter charged with tax fraud

A 49-year-old Vancouver mining industry consultant and stock promoter was charged with fraud and tax evasion after grossly under-reporting his income and over-claiming capital losses.

Criminal charges against Damien Reynolds allege that from 2004 to 2012 he used offshore companies in the British Virgin Islands and Ireland to reduce his tax payable by millions of dollars.

The alleged schemes include under-reporting personal income, falsely claiming non-resident status, claiming false losses and evading payment of Goods and Services Tax/Harmonized Sales Tax.

Read more at News Wire

This article is summarized by Canadian Fraud News Inc.