A West Vancouver businessman has been fined $172,000 after pleading guilty to tax evasion.
Paul Jacobs, 53, pleaded guilty to the charge on Sept. 13 in Robson Square provincial court.
Jacobs, the sole director and shareholder of a numbered company, was nabbed by the Canada Revenue Agency after failing to report $804,000 in management and consulting fees earned over a six-year period.
Between 2003 and 2009, Jacobs' company provided management and consulting to The Cambie Malone's Corp.
Income earned was deposited directly into a bank account that Jacobs held jointly with his wife.
But the income wasn't reported by either Jacobs or his company.
The earnings were discovered by tax officials during a regular GST audit of Cambie Malone, according to spokesman Bradley Alvarez.
Jacobs' fine is equal to the amount of federal income tax he evaded. He was also given a six-month conditional sentence with conditions to be in his Eagle Harbour home between 10 p.m. and 6 a.m. Jacobs was also told to complete 20 hours of community work service.
The same week, North Vancouver resident Robert Todd Craddock was also fined $2,000 for failing to file tax returns. Craddock, a cinematographer, was sentenced for not filing a personal tax return or a business tax return for Todd Craddock Productions Inc. for 2008. He was also ordered to file outstanding personal and corporate tax returns for 2009 and 2011.
