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Latest conviction in $7 million tax fraud

Latest conviction in $7 million tax fraud

Three individuals and two companies were ordered to pay fines totaling $7 million after a tax evasion scheme was discovered. One of those people, a financial advisor, was recently sentenced to 90 days in prison.

According to Revenu Québec, financial advisor Luc Vallée, 62, of Notre-Dame-de-l’Île-Perrot, Montérégie, acted as the “facilitator” in this scheme that allowed investors to announce donations six to seven times larger. . The amount already spent and thus benefit from tax deductions.

«[M. Vallée] He used his position as a financial advisor to persuade his clients to get involved. In all, it helped 93 people unnecessarily demand sums totaling $724,468.36,” Revenu Québec noted in a Thursday press release, specifying that on September 29 he was ordered to pay $91,385, in addition to his intermittent stay behind bars.

As for them, Daniel Duval and Jean-Claude Sencal, 72, of Montreal, have been presented as the “architects of this stunt”. The two men were sentenced on November 13, 2019 to pay total fines of $1.5 million each.

Two companies, Foncière Agroterre and Fondation Agroterre, were also ordered to pay fines totaling $1.5 million two years ago.

No criminal charges have been brought against the investors in connection with this case. However, all of them have been subjected to a new assessment so that they pay their fair share of taxes,” it was pointed out in connection with this investigation launched after the information was obtained by the Financial Autorité des marchés (AMF).

Searches were carried out at the perpetrators’ homes, at the premises of charitable organizations and at an accounting office in Repentigny in Lanudiere. The charges in this case date back to 2015.

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