Revenue Quebec agents investigate gold-refining scam
Posted June 10, 2011 10:03 pm.
This article is more than 5 years old.
Residents and businesses in the Montreal area got a nasty surprise Thursday, when 175 Revenue Quebec agents descended to investigate what they claim is a gold-refining scam used to evade taxes at the federal and Quebec provincial levels.
Revenue Quebec says more than 100 companies owe nearly $150-million in taxes to the province.
The agency is investigating what it says is a network of people and companies who used a gold-refining scam to rob the Quebec and federal treasuries.
By law, converting scrap gold to pure gold and reselling it is subject to tax refunds. In the alleged scheme, the companies are believed to have made phony invoices for these types of transactions that never took place.
Anyone found guilty could face heavy financial penalties and even jail time, but there has been no word of any arrests.
