Two Torontonians face charges of tax evasion, they who allegedly pocketed $ 7.2 million with their scheme, said the Canada Revenue Agency (CRA).
Kwang Won Lee (Lee), of Mississauga, and Sung Oh Chung (Chung) of Thornhill, face six counts in connection with alleged fraud committed between 2012 and 2016. According to the CRA, the two suspects allegedly defrauded more $7.2 million in evaded taxes.
Lee and Chung allegedly “participated in a tax evasion scheme by underreporting taxable income earned by corporations and goods and services tax/harmonized sales tax collected by their businesses,” Sovereign Staffing Inc. and Talent Savvies Inc.
“In addition to the business-related charges, Lee and Chung were charged with under-reporting income on their personal income tax returns for the years 2012 through 2016,” the CRA said in a statement.
Judgments on June 15, Lee and Chung were released on bail under conditions imposed by the Court.
Remember that tax evasion and all related activities are criminal offenses that can lead to imprisonment.