Brampton, Ontario, May 6, 2013...The Canada Revenue
Agency (CRA) announced today that Mr. Dele Afolabi, also known as
Afolabi Dele, pleaded guilty on May 1, 2013 in the Ontario Court of
Justice in Brampton, to one count of tax evasion. He was sentenced to a
six-month conditional sentence of house arrest, and a fine of $10,000.
Mr. Afolabi operated Abundant Grace Investments, also known as
Abundance Grace Investment, providing tax preparation services,
financial planning and accounting related services. A CRA investigation
discovered that false charitable donation claims totalling $373,364 were
made on 59 income tax returns prepared by Mr. Afolabi for clients for
the 2006 to 2008 tax years. The false claims were supported by
fraudulent charity receipts. The false claims reduced the amount of
federal taxes owed by $104,542.
The information in this news release was obtained from the court records.
Taxpayers who claim false expenses, credits or rebates from the
government are subject to serious consequences. They are liable not only
for corrections to their tax returns and payment of the full amount of
tax owing, but also to penalties and interest. In addition, if convicted
of tax evasion, the court may fine them up to 200% of the tax evaded
and sentence them for up to a five-year jail term.
Taxpayers who have not filed returns for previous years, or who have
not reported all of their income, can still voluntarily correct their
tax affairs. They may not be penalized or prosecuted if they make a
valid disclosure before they become aware of any compliance action being
initiated by the CRA against them. These taxpayers may only have to pay
the taxes owing, plus interest. More information on the Voluntary
Disclosures Program (VDP) can be found on the CRA's Web site at www.cra.gc.ca/voluntarydisclosures.
Further information on convictions can also be found in the Media Room on the CRA website at www.cra.gc.ca/convictions.
Canada Revenue Agency
This a a reproduction copy of an official work that is published by the Government of Canada and that the reproduction has not been produced in affiliation with, or with the endorsement of the Government of Canada.
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