Japanese billionaire and real estate tycoon Genshiro Kawamoto has been arrested in Tokyo, Japan for suspected tax evasion. Kawamoto, who is 81 years old, is accused of evading paying $9.2 million in corporate taxes. According to Kyodo News, Kawamoto did not report $31 million in revenue over three years ending in December 2011. Kawamoto is believed to have played a leading roll in the tax evasion by not reporting rent from some of its tenants and falsely listing losses under the guise of building sales. Kawamoto stated to reporters, “I haven’t evaded taxes, and I don’t know anything about it (the charges),”
Genshiro Kawamoto has gain fame and notoriety in Hawaii when he purchased approximately 200 homes for a total of over $85 million around the island of Oahu in the late 1980s. In the early to mid 2000s, Kawamoto purchased almost 30 additional homes along Kahala Avenue for $165 million.
Source: Honolulu Star Advertiser, 3-6-2013, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, Realtor®
Global Executive Realty, LLC
www.myhawaiihomesearch.com
www.myhawaiicondo.com
www.myhawaiidreamhome.com
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, Realtor®
Global Executive Realty, LLC
www.myhawaiihomesearch.com
www.myhawaiicondo.com
www.myhawaiidreamhome.com
