Will Canada Revenue Agency investigate lawyer’s transfer of 1 million to a phoney client?
Will Canada Revenue Agency take on Big Law?
Canada Revenue Agency (‘CRA’) recently announced that it has launched dozens of investigations into offshore monies that surfaced in the Panama Papers leak. (Toronto Star news article here)
The agency says it has “upped its game” in going after the money-laundering, tax-fraud crowd with a half-a-billion dollar budget increase aimed squarely at funding such investigations.
I wonder if the CRA will shy away from investigating big Bay Street law firms – given that everybody knows that without corrupt lawyers and accountants, tax-fraud and money-laundering would be severely obstructed for most of the offshore monied class.
Considering that a recent Global Witness ‘cold-call’ undercover investigation showed that fully 25% of big city lawyers are willing to money-launder, we can safely assume that a much higher percentage of lawyers would do the dirty deed for their known and trusted client base.
Unless the Canada Revenue Agency is willing to take on Big Law, their investigations will only yield low hanging fruit – little guys.
So in the spirit of Canadians cooperating with the Canada Revenue Agency to lower all our tax pressures, I offer the following set of circumstances that can easily be proven through documents already filed as evidence before the courts. CRA investigators and my readers shouldn’t believe anything I say though… they should examine the evidence and make up their own minds.
Money laundering question: Where did the million dollars go?
Toronto lawyer Gerald Ranking and his Fasken Martineau DuMoulin LLP law firm were paid over a million dollars in court costs during the Nelson Barbados Group vs Cox civil lawsuit – in trust for their purported client, ‘PricewaterhouseCoopers East Caribbean Firm’.
Only one little problem: Gerald Ranking, Faskens and co-counsel Lorne Silver knew that the Ranking’s client was a phoney non-entity that does not, and did not, exist at any time.
The use of a fraudulent, non-existant business entity for financial transactions is a recognized badge of fraud and money-laundering.
While Gerald Ranking’s use of a phoney client and non-existent business entity offered his real clients some measure of protection if the civil suit was lost, it created problems when the court ordered payments to the phoney non-existent business. By definition, a phoney non-existent business cannot have a bank account.
During the Nelson Barbados Group Ltd. civil case, about a million dollars in costs was paid to Faskens and Ranking in trust for their fraudulent non-existent ‘client’. So where did Faskens and Ranking transfer the money received ‘in trust’ for their phoney client?
The one thing we do know about where the money went is that it was never deposited into any bank account in the name ‘PricewaterhouseCoopers East Caribbean Firm’ as the court ordered.
How did Fasken and Ranking work around the currency laws of Barbados, applicable income tax laws and other legal problems that must have arisen when transferring a million dollars the court ordered paid to a non-existent, phoney, fraudulent non-entity?
That, as they say, is an excellent question that is certainly worthy of consideration by the courts, Canada Revenue Agency, the Law Society of Upper Canada and by ordinary Canadians.
Here’s where CRA and my readers can find the sworn and filed court evidence to investigate and decide this matter for themselves:
September 17, 2015 – Why did Fasken Martineau lawyer Gerald Ranking not submit costs to the Supreme Court of Canada?
September 20, 2014 – Lawsuit Claim: Faskens lawyer Gerald Ranking knowingly represented a phoney business entity, lied to the Supreme Court of Canada.
March 27, 2016 – Anonymous Companies: Global Witness undercover investigation shows 25% of lawyers will money launder.
Let me make it quite clear: Lawyer Gerald Ranking of the large Canadian law firm Fasken Martineau DuMoulin, knowingly lied to the Superior Court of Ontario, the Appeal Court of Ontario and to the Supreme Court of Canada. Starting in 2007, Ranking falsely claimed that his purported client ‘Pricewaterhouse Coopers East Caribbean Firm’ was a business legitimately registered with the Government of Barbados. That was a lie in 2007, and it continues to be a lie.
Ranking and his witness maintained that lie for years, even in the face of irrefutable evidence to the contrary. In January of 2013, Ranking even sought to reinforce the lie by fraudulently reading into the court record deliberately false renditions of Barbados government records. The evidence to support all this is filed with the courts, and is available here at DonaldBest.ca.
Fasken Martineau DuMoulin lawyer Gerald Ranking is a liar. His actions were unethical and illegal. He lied to the Supreme Court of Canada.
Further… there is the question of the million dollars paid into Ranking’s trust account for a non-existent, fraudulent client that could not have possibly had a bank account.
And the money ended up where?
Clear enough? Good!