The taxpayer made loans to a corporation that, it transpired, was engaged in a Ponzi scheme. C Miller J found that purported interest payments that the taxpayer received from the corporation were not income from a source (see summary under s. 3). In the course of his reasons, he relied on the Alberta Securities Commission's finding that the investment was fraudulent. The Minister argued that it was inappropriate to rely on facts raised in the Commission's decision, not proven in the present trial. C Miller J replied that the Commission's finding of fraud was a finding of law (para. 14).
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finding of fraud by securities commission is a legal conclusion, not a factual allegation
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Drupal 7 entity ID
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Extra import data
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