Mugen Head arrested for Tax Evasion.
07-05-2003, 08:33 PM
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Mugen Head arrested for Tax Evasion.
Tuesday, July 1, 2003 at 16:06 JST
SAITAMA — Public prosecutors arrested Hirotoshi Honda, the president of racing car engine maker Mugen Co, and the firm's former auditor on Tuesday on suspicion of evading some 1 billion yen in corporate tax.
The Saitama District Public Prosecutors Office launched a criminal investigation of the case earlier Tuesday and questioned Honda, 61, the eldest son of Soichiro Honda, the late founder of Honda Motor Co, before arresting him. They also arrested Norio Hirokawa, 60, the company's former auditor, for allegedly conspiring with Honda to conceal income and evade tax. (Kyodo News)
http://[<a href="http://mdn.mainichi...0000c.html</a>
Honda's son arrested over massive tax scam
SAITAMA -- The eldest son of the late Soichiro Honda, the founder of Honda Motor Co. Ltd., was arrested Tuesday over massive tax evasion of an engine manufacturer he runs, officials said.
Hirotoshi Honda's company, Mugen Co., in Asaka, Saitama Prefecture, is suspected of evading the payment of about 1 billion yen in corporate tax by failing to properly declare more than 3 billion yen income for a three-year period until October 2000.
Honda, 61, and Norio Hirokawa, a former auditor to Mugen, played a leading role in the company's tax evasions, said crime busters of the Saitama District Public Prosecutors Office when they arrested the two.
Honda and Hirokawa cooked the company's ledgers with the fictitious cost of materials bought in dealings with a leasing company also run by the Mugen president.
Investigators suspect that Honda and his firm spent the funds on land in Tokyo's Minato-ku.
Mugen technology is known worldwide through the development of engines that won several Formula-1 events.
Honda Motor Co. formerly owned a 40 percent interest in Mugen, but currently no formal relationship exists between the two companies. (Mainichi Shimbun, Japan, July 1, 2003)
SAITAMA — Public prosecutors arrested Hirotoshi Honda, the president of racing car engine maker Mugen Co, and the firm's former auditor on Tuesday on suspicion of evading some 1 billion yen in corporate tax.
The Saitama District Public Prosecutors Office launched a criminal investigation of the case earlier Tuesday and questioned Honda, 61, the eldest son of Soichiro Honda, the late founder of Honda Motor Co, before arresting him. They also arrested Norio Hirokawa, 60, the company's former auditor, for allegedly conspiring with Honda to conceal income and evade tax. (Kyodo News)
http://[<a href="http://mdn.mainichi...0000c.html</a>
Honda's son arrested over massive tax scam
SAITAMA -- The eldest son of the late Soichiro Honda, the founder of Honda Motor Co. Ltd., was arrested Tuesday over massive tax evasion of an engine manufacturer he runs, officials said.
Hirotoshi Honda's company, Mugen Co., in Asaka, Saitama Prefecture, is suspected of evading the payment of about 1 billion yen in corporate tax by failing to properly declare more than 3 billion yen income for a three-year period until October 2000.
Honda, 61, and Norio Hirokawa, a former auditor to Mugen, played a leading role in the company's tax evasions, said crime busters of the Saitama District Public Prosecutors Office when they arrested the two.
Honda and Hirokawa cooked the company's ledgers with the fictitious cost of materials bought in dealings with a leasing company also run by the Mugen president.
Investigators suspect that Honda and his firm spent the funds on land in Tokyo's Minato-ku.
Mugen technology is known worldwide through the development of engines that won several Formula-1 events.
Honda Motor Co. formerly owned a 40 percent interest in Mugen, but currently no formal relationship exists between the two companies. (Mainichi Shimbun, Japan, July 1, 2003)
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