A resident of Brampton has been sentenced to three years in prison after admitting to fabricating $34 million worth of charitable donations on tax returns he completed for clients.
The Canadian tax authorities, in a statement released on Friday, disclosed the verdict along with insights from the court proceedings. According to the Canada Revenue Agency (CRA), Festus Bayden operated as a partner in a tax preparation firm named E & F Tax Associates, also operating under the name Bankay Financial Services, Inc. in Toronto and Brampton. Following a CRA investigation, it was discovered that Bayden had falsely claimed over $34 million in charitable donations on individual tax returns he prepared for more than 30 clients
during the 2004 to 2006 tax years.
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