|01-16-2004, 09:10 PM||#1|
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Former K-1 President sentence to jail
The former president of K-1, was ordered Wednesday to spend 22 months behind bars for evading approximately 320 million yen (2,4 Million Euro) in corporate taxes.
The Tokyo District Court convicted Kazuyoshi Ishii, 50, of violating the Corporate Tax Law and involvement in destroying evidence. The court also slapped K-1 as an entity with a 70 million yen (€ 525.000) fine.
"As the mastermind, the defendant came up with a way to evade tax, and concealed 900 million yen in income. He put the money in a slush fund. His crime is bold and vicious, and had an impact on society," Presiding Judge Yoshinobu Iida said as he handed down the ruling.
The defendant, who pleaded guilty to the charges during the trial and asked for a suspended sentence, immediately appealed the ruling to a higher court.
Ishii conspired with a 68-year-old certified tax accountant, who served as an adviser to K-1, to conceal about 909 million yen in corporate income over a four-year period up to September 2000, according to the ruling. The defendant thereby evaded about 302 million yen in corporate taxes.
Ishii misappropriated some 430 million yen of the concealed income for his personal use, including the purchase of an expensive car, the court found.
He also falsely claimed in K-1's tax declaration that the company had paid a penalty to Mike Tyson for violating the terms of a contract with the wrestler in a bid to cover up the tax evasion.
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