Canada Revenue Agency officers, backed up by police, raided locations in three provinces Wednesday as part of a criminal tax-evasion probe stemming from the Panama Papers, the agency said.
About 30 criminal investigators from the CRA executed three search warrants in the Toronto area, Calgary and West Vancouver, with assistance from the RCMP and the West Vancouver police, the CRA said in a statement online.
It’s the first time the revenue agency has publicly disclosed details of any of the “several criminal investigations” it has long said it is conducting based on the Panama Papers leak, and could be a sign the CRA is preparing to bring rare criminal charges against people hiding money offshore.
“The CRA’s investigation identified a series of transactions involving foreign corporations and several transfers through offshore bank accounts used, allegedly, to evade taxes,” the agency said.
The CRA did not identify which people, businesses or locations were