Former Lake Louise Ski Resort chief financial officer fined, jailed for evading taxes on stolen money
Posted Nov 15, 2024 7:13 am.
The former chief financial officer for Lake Louise Ski Resort has been hit with a large fine and jail time for not paying taxes on money he stole from his employer.
Derek Kwasney of Calgary was sentenced Tuesday to one year in jail and a $106,000 fine, following a September guilty plea.
He admitted to willfully evading tax payments by understating his income on his individual tax return.
A Canada Revenue Agency (CRA) investigation revealed that as Lake Louise’s CFO, Kwasney misappropriated funds in 2015 and 2016, totaling more than $350,000.
The CRA says Kwasney didn’t report the stolen money as part of his income for those tax years, meaning he evading more than $100,000 in federal income tax.
In addition to his fine and jail time, Kwasney will also have to pay the full amount of tax he owes, plus related interest and any penalties assessed by the CRA.
The CRA says from April 2019 to March 2024, 135 people were convicted of evading more than $44 million in federal taxes.
As of March 31, 2024, these convictions have resulted in more than $25 million in court fines and more than 108 years in jail.
