Black Blade
10th December 2013, 10:52 AM
http://www.montrealgazette.com/business/cms/binary/9266083.jpg
Bart Kitner
montrealgazette.com / BY NICOLAS VAN PRAET / DECEMBER 9, 2013
MONTREAL – Revenue Quebec is seeking prison sentences and fines totalling $750-million for Kitco Metals Inc. founder Bart Kitner and directors with several other gold trading firms following one of the biggest tax fraud investigations in provincial history.
Quebec’s revenue department on Monday said it filed a total of 1,920 charges against Kitco and 11 other companies as well as their directors and an accountant implicated in an alleged fraud scheme linked to gold processing. Some 120 charges were filed against Kitco and another 120 against Kitner involving total fines of $454.6-million.
“This is an investigation that’s lasted several years and the evidence is significant,” Revenue Quebec spokesman Stéphane Dion said. “Without a doubt, it’s one of the largest investigations we’ve ever done.”
The total amount of the alleged fraud by all 12 companies was $350-million over a two-year period ending in 2010, Dion said. The department claims Kitco specifically made false statements and tried to obtain tax rebates to which it wasn’t entitled.
Kitco forcefully denied the allegations. The company last year filed a lawsuit against Revenue Quebec seeking $122-million in damages caused to the company and on Monday, it said its legal action against the department will escalate as a result of the formal charges.
READ MORE: http://www.montrealgazette.com/business/Kitco+founder+other+gold+traders+face+jail+million +fines/9266082/story.html
Black Blade: I remember back in the day many of us were on Kitco, USAGOLD, etc. forums. Looks like they are still going after Bart.
Bart Kitner
montrealgazette.com / BY NICOLAS VAN PRAET / DECEMBER 9, 2013
MONTREAL – Revenue Quebec is seeking prison sentences and fines totalling $750-million for Kitco Metals Inc. founder Bart Kitner and directors with several other gold trading firms following one of the biggest tax fraud investigations in provincial history.
Quebec’s revenue department on Monday said it filed a total of 1,920 charges against Kitco and 11 other companies as well as their directors and an accountant implicated in an alleged fraud scheme linked to gold processing. Some 120 charges were filed against Kitco and another 120 against Kitner involving total fines of $454.6-million.
“This is an investigation that’s lasted several years and the evidence is significant,” Revenue Quebec spokesman Stéphane Dion said. “Without a doubt, it’s one of the largest investigations we’ve ever done.”
The total amount of the alleged fraud by all 12 companies was $350-million over a two-year period ending in 2010, Dion said. The department claims Kitco specifically made false statements and tried to obtain tax rebates to which it wasn’t entitled.
Kitco forcefully denied the allegations. The company last year filed a lawsuit against Revenue Quebec seeking $122-million in damages caused to the company and on Monday, it said its legal action against the department will escalate as a result of the formal charges.
READ MORE: http://www.montrealgazette.com/business/Kitco+founder+other+gold+traders+face+jail+million +fines/9266082/story.html
Black Blade: I remember back in the day many of us were on Kitco, USAGOLD, etc. forums. Looks like they are still going after Bart.