Braich and his team have asserted from the outset of a legal dispute in 1999; that a Petition that was filed against him in Vancouver, British Columbia, by Glenn Walsh/Tercon Contractors was fraudulent. The Petition was designed, in part, by lawyer Brian McLean in order to extort hundreds of millions of dollars from Braich and Trusts which he controlled.
When contacted for their comments, Braich and his supporters said they felt “vindicated”
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"According to estimates of Trusts that Braich controls, the net aggregate value puts him at being the second richest person in Canada and makes him one of the top three wealthiest Indians in the world today, along with Mukesh Ambani (Reliance Group) and Lakshmi Mittal (ArcelorMittal)
Furthermore, it was repeatedly alleged by many that the entire administration of Braich’s affairs was grossly mishandled by global giant KPMG and other professionals. The entire process was mired with many individuals conspiring to prevent the truth from surfacing. This includes shocking muzzling Orders that were issued by the former Chief Justice of The Supreme Court of British Columbia.
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Throughout this entire debacle the common theme of ignoring the Canadian Charter of Rights and Freedoms is quite apparent.
Braich and his advisors have collected evidence in what they believe is a pattern of activity that fits squarely under the umbrella as prescribed by the United States Racketeer Influenced and Corrupt Organizations Act (RICO).
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Braich and his team have also long contended that BDO, now the fifth largest accounting firm in the world, was involved in fraudulent tax planning.
To read more about BDO’s client’s attempted extortion and the other heavy-handed tactics used by various conspiring and therefore culpable parties against Braich, click on the link below:
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Irrefutable evidence has been uncovered which clearly shows that the Canadian tax authorities agreed with Braich and his advisers long ago.
KPMG may indeed have been notified by some government personnel and that could be one of the reasons that they refuse to share their files. In addition KPMG has breached Orders made by the Supreme Court of British Columbia, throughout this entire saga, without any adverse consequences - yet.
The results of an investigation into the tax fraud committed by BDO’s client, is a letter from the Canada Customs and Revenue Agency, (CCRA), dated September 5th, 2002, addressed to BDO employee, Jas Butalia, confirming that BDO’s client could not prove that any loan had been made to Braich.
A comprehensive government audit also states that in a conversation on January 21st, 1999, Braich was “willing to return the capital with the appropriate return on the use of funds and Mr. Walsh could walk away from the deal”.
To view the comprehensive government audit please click here:
The CCRA concludes that the purpose of BDO’s client’s investment was to “participate in the upside of the deals”, confirming Braich’s vigorous assertions of attempted extortion from over one decade ago.
The fourth page of the same letter states that in 1998, Canadian Imperial Bank of Commerce (CIBC) arranged a “fictitious”
A copy of the letter regarding the tax fraud in which CIBC assisted BDO, which was also sent to BDO’s client, can be viewed here:
On October 10th, 2002, the Commissioner of Customs and Revenue, Rob Wright, from the International Tax Services Office also agreed with Raj Grewal of the CCRA’s Tax Avoidance Section’s Verification and Enforcement Division and Braich, and denied BDO’s client the loan deductions he sought, and issued a Notice of Reassessment stating he owed over CDN $45 Million in unpaid income taxes.
To view the Notice of Reassessment, please click on the link below:
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In a recent application that was heard by Justice Voith, beginning February 4th, 2013, and originally scheduled for five days, in The Supreme Court of British Columbia, it was revealed in open court that Mr. Jas Butalia had “put many billions of client dollars offshore”. It was also revealed that many others across Canada had participated in significant amounts of fraudulent tax evasion and their names were revealed in open court as well.
Observers, including members of the press and politicians, reported that the court proceeding was cut short by a seemingly irritated Brian McLean. Another peculiar tactic, seemingly to avoid any more public scrutiny, was the announced departure from the norm, with respect to the Reasons for Judgment, which will not be read in open court when pronounced by Justice Voith.
Some of the horrific and shocking revelations, in this heinous fraud against honest and hardworking Canadians, left certain observers speechless.