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.
Marina Burghard writes for Canadian Fraud News about fraud-related cases, whistleblower, jurisdiction, identity theft, consumer protection, etc. – essentially about scams and how to protect yourself against this kind of fraudulent criminal behavior. She holds a Master’s degree in Political Science where her interest in criminology grew. Besides fraud, Marina’s scientific interest lies in terrorism, extremism and how to deal with it as a society.