Wentao Yang, an Alberta businessman accused of tax evasion tied to the Panama Papers, now faces a Canada-wide arrest warrant after failing to appear in court.The Canada Revenue Agency (CRA) alleges Yang evaded over $860,000 in taxes by hiding consulting fees from oil deals brokered for Chinese investors.

Yang, who facilitated a $770-million deal to acquire Canadian oil assets, was charged in November 2023 with filing false tax returns, tax evasion, and fraud.A bench warrant issued in December 2023 was upgraded to a national warrant after Yang allegedly left Canada.

The CRA’s investigation, linked to the 2016 Panama Papers leak, revealed Yang’s offshore companies funneled funds through Caribbean accounts to obscure the source of income.His Calgary home, West Vancouver mansion, and accountant’s office were raided in 2018.Yang has not publicly addressed the charges, which stem from allegations of misreporting income from the 2015-2016 tax years.The case marks the first criminal investigation in Canada tied to the Panama Papers, highlighting ongoing scrutiny of offshore financial practices.