Featured Canada

Huawei CFO seeks publication ban on HSBC documents in U.S. extradition case

Huawei Chief Financial Officer Meng Wanzhou on Monday will seek to bar publication of documents her legal team received from HSBC, a request opposed by Canadian prosecutors in her U.S. extradition case who say it violates the principles of open court. Meng’s legal team will present arguments in support of… Read More

Toronto-Dominion Found Not Liable in Allen Stanford Fraud Trial

Toronto-Dominion Bank was found not liable for losses related to convicted fraudster Allen Stanford’s Ponzi scheme, with an Ontario judge rejecting a $4.5 billion negligence claim against the firm. The lender doesn’t need to pay the claim filed by trustees trying to recover losses from Stanford… Read More

Canada: Wealthy KPMG clients continued to dodge taxes for years after CRA detected offshore ‘sham’

After amassing a fortune selling scrap metal in South Africa, Peter Cooper immigrated to Canada in the mid-1990s with his sons Marshall and Richard and their families. They settled in Victoria, purchased luxurious homes and became permanent residents — qualifying for Canadian health care and other social services. But that… Read More
4th June 2021
Kyiv’s Pechersky district court has ruled to seize Ukrainian blogger Anatoly Sharij’s real estate and bank accounts. He announced this on Telegram on June 2. According to him, he has not been living in Ukraine for 10 years and allegedly has not been involved in financial… Read More
27th May 2021
“Dread that fills you with horror.” That’s how a customer named QCX-INT described his reaction to the collapse two years ago of QuadrigaCX, Canada’s largest cryptocurrency exchange, where he had upwards of six figures in cash tied up. It was the end of January 2019, and QuadrigaCX had just filed… Read More
20th May 2021
For years, ultra-wealthy Canadians — aided by high-priced accounting and tax law firms — have been setting up offshore shell companies in the Isle of Man so they can dodge taxes back home, avoid paying future creditors (such as ex-spouses) and hide their identities. Now, MPs on the House of Commons finance committee appear… Read More
17th May 2021
The U.S. Treasury Department issued a new round of sanctions against people involved in Myanmar’s February coup, including the governor of the nation’s central bank, Than Nyein. Treasury also sanctioned 15 other individuals, including several Myanmar government ministers, and the State Administration Council, an entity the nation’s military rulers created… Read More
11th May 2021
If you head into your bank with $10,000 in cash and ask to deposit it, the bank must report that transaction to the Financial Transactions and Reports Analysis Centre of Canada – FINTRAC. If you buy precious metals or stones with that much cash, the store must also report it… Read More
9th May 2021
The Supreme Court of Canada will hear an appeal in a case where the conviction of four people accused of money laundering on behalf of the Hells Angels was quashed over unreasonable legal delays. The high court said Thursday it will hear the appeal brought by Quebec’s Crown against four… Read More
7th May 2021
Five years ago, tax law expert André Lareau was blocked from giving testimony before the House of Commons finance committee by a last-minute gag order preventing witnesses from talking about a prominent accounting firm’s tax avoidance scheme. Now, he has a message for the members of Parliament who are today rebooting their probe into offshore companies registered in the Isle of… Read More
6th May 2021
A formal inquiry into the issue of money laundering in B.C. is calling a former cabinet minister back to the stand to testify for a second time over inconsistencies in his first round of sworn testimony. Rich Coleman, a six-term former Liberal member of the B.C. Legislature, will have to… Read More
4th May 2021
Authorities in Germany managed to take down one of the world’s biggest child sex abuse platforms following a large-scale investigation which led to several arrests in mid-April, a police statement confirmed on Monday. The platform “Boystown” was active since at least June 2019 and had a… Read More
29th April 2021
Victims of a massive investment fraud that operated for years out of Montreal and siphoned more than $500 million offshore are calling on federal politicians to resume an inquiry into Canadian shell companies set up in the Isle of Man, a popular tax haven used by global accounting firms. “On… Read More