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But on Friday, Mahmood and his past promises crashed to earth when he learned the perils of tax evasion in connection with those same courses. Evidence at his trial in the Superior Court of Justice showed Mahmood, a year-old father of four, did not collect the GST or produce any books or records for his business.

Justice Gordon Lemon in passing sentence on Mahmood who showed no emotion. Everything we make, we keep. Mahmood, who graduated from high school, dropped out of university after a year. He worked as a janitor, perfume salesman and security guard, and then took training courses at the Market Traders Institute in Florida. He briefly worked as a salesman at the institute before starting Forex here. Evidence at the trial showed Mahmood controlled bank accounts in different countries, incorporated companies, traded currencies in international markets and operatecd an investment management business.

Mahmood also told the court his business continually lost money and he had to borrow from friends and family.

He stressed that the case calls for a jail term to deter other individuals from dodging their tax obligations to the government. Lemon agreed with the defence for a longer payment period of the fine.

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