The CRA investigation was prompted by the Panama Papers leak of 11.7 million documents from the offshore law firm Mossack Fonseca. A collaboration of hundreds of journalists, working through the International Consortium of Investigative Journalists, published thousands of reports revealing the inner workings of the shady world of tax havens, which cost government coffers billions of dollars each year.
“The case was developed after a review of the (ICIJ) website showed that Wen Tao (sic) Yang owns shares in foreign companies listed on the ‘Panama Papers,’” wrote CRA investigator Jason Shephard, who prepared the summary of his investigation into the couple.
According to the CRA allegations, Yang purchased oil and gas companies in Canada “using capital pooled through his investor contacts in China.”
The CRA zeroed in on the purchase of Calgary-based Long Run Exploration Ltd. by Yang’s company Calgary Sinoenergy Oil Investment Corp. Investigators allege that Yang was paid more than