CALGARY, AB, July 14, 2026 /CNW/ – The Canada Revenue Agency (CRA) announced today that a Canada-wide arrest warrant has been issued on July 13, 2026, for Wentao Yang, of Vancouver, British Columbia–formerly of Calgary, Alberta–following his repeated failure to appear in court. On November 12, 2025, Yang was charged with multiple offences that include tax evasion and fraud, both as an individual and in his capacity as a director of Kailas Energy Corp. (Kailas).
The CRA began this investigation after the disclosure of information from the International Consortium of Investigative Journalists on their website, listed as the “Panama Papers”. The CRA alleges that Yang facilitated the acquisition of multiple Canadian oil and gas assets by investor groups in China. During the 2015 and 2016 taxation years, Yang failed to report consulting fees, and Kailas failed to report consulting fees for the 2015 taxation year. These transactions were done in such a way as to obscure the source of the funds by using several transfers, including through foreign bank accounts, before being deposited into Canadian accounts held by the accused. A total of nine charges were laid against Yang, both as an individual and in his capacity as a director of Kailas, at the conclusion of the CRA investigation.
All case-specific allegations above were obtained from the court records.
The CRA is dedicated to maintaining the integrity of Canada’s tax system, thereby contributing to the social and economic well-being of Canadians. The CRA continues to aggressively pursue tax evasion and false claims with all the tools available to it. The CRA works to make sure that individuals and businesses report all income earned and only claim benefits to which they are entitled, so that important benefit programs can be administered to those who need them. Any individual or business who underreports income or claims losses or benefits to which they are not entitled may have to repay the benefit amounts and may be subject to other possible action.
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SOURCE Canada Revenue Agency