Brampton Man Sentenced in Massive Tax Fraud
A Brampton man who prepares taxes recently pleaded guilty in a huge tax scandal, the Canada Revenue Agency (CRA) said in a statement Thursday.
According to the CRA, Ajay Sharma of Brampton was sentenced to a “conditional sentence of two years less a day, to three years of probation, and to a court imposed fine of $96,946.”
Sharma was sentenced on April 27, 2018, and he pleaded guilty on September 25, 2017 to one count of fraud over $5,000.
According to the CRA, Sharma prepared 100 fraudulent tax returns for 37 clients from 2009-2012. Sharma is the owner and operator of tax business S&S Associates.
“In the preparation of his clients' tax returns, Sharma created fictitious business losses totalling $2,577,221, resulting in the evasion or attempted evasion of a total of $488,178 in federal taxes,” reads the release from the CRA.
“Sharma personally benefited $96,946 from this scheme by charging his clients a percentage of the unwarranted refunds they obtained from the CRA.”
His fine is proportionate to his benefits from the scheme, according to the release.
Tax evasion is not uncommon, says the CRA.
“Between April 1, 2006, and March 31, 2017, the courts convicted 55 tax preparers for tax evasion related to their tax affairs or those of their clients. The courts sentenced the tax preparers to over $4.6 million in fines and 703 months of jail time.”
For more details on tax disclosures, click here.
- Brampton Man Sentenced to Several Years in U.S. Prison for $120-Million Drug Trafficking Scheme
- Brampton Man Sentenced to Several Years in U.S. Jail for Drug Trafficking Scheme
- Here's How Much Metrolinx Loses Due to Fare Evasion
- Two People Convicted of Fraud in Connection with Elaborate Ponzi Scheme
- Pimp Sentenced to Five Years for Prostituting Teen