An Alberta businessman who has quietly been teeing up hundreds of millions of dollars in deals for Chinese investors to buy oilpatch assets is the first person known to be targeted by the Canada Revenue Agency's criminal investigations into the Panama Papers, court records reveal. "This case was developed after a review of the International Consortium of Investigation Journalists website showed that Wentao Yang owns shares in foreign companies listed on the Panama Papers," the CRA's court filing reads. Yang is linked to numerous offshore companies in the Panama Papers and an earlier leak in 2013. Later, the CRA trumpeted that it had executed a number of search warrants as part of criminal investigations into Canadians named in the Panama Papers. The investigation of Yang is the first time the CRA has divulged the existence of public records on any particular Panama Papers probe.

Source: CBC News May 04, 2018 03:02 UTC