Taxable Talk

Myong Ho Pak is the owner of Yama Sushi restaurant here in Las Vegas. The restaurant is popular and has done quite well; it features all you can eat sushi. It may have done a bit worse on its 2008 to 2010 tax returns than it really did, though. You see, the owner only included his credit card receipts on his tax return.

It turns out that Mr. Pak’s accountant received his business bank statements but the cash from the business went directly into his personal bank accountant. It’s a good scheme when it works. Unfortunately for Mr. Pak, the IRS discovered the evasion.

Mr. Pak pleaded guilty on Monday to tax evasion, and has agreed to make full restitution to the IRS of $244,045. He’ll be sentenced in December.

This entry was posted on Wednesday, September 10th, 2014 at 7:28 pm and is filed under Las Vegas, Tax Evasion. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.