Iristel

CRA Alleges Iristel Involved in Sham Carousel Scheme

The Canada Revenue Agency (CRA) suspects a $63-million error in tax refunds, linking it to a "sham" carousel scheme allegedly involving Iris Technologies, the parent company of Iristel. Based in Markham, Ontario, Iris Technologies, under CEO Samer Bishay, reportedly inflated its sales from $27 million to $800 million within two years, primarily through trading bulk...