Massive U.K.-based scheme aimed to swindle $52M in tax refunds from Canadian government

Websites for fraudulent telecommunications service providers based in the U.K. managed to squeeze $4.7 million out of federal coffers over five years before investigators with the Canada Revenue Agency caught on to the scheme.

The proceeds were put into Canadian banks, then transferred to offshore accounts or used in real estate transactions.

read more at canadianfraudnews.com