TOKYO (TR) — The Tokyo Regional Taxation Bureau has filed a criminal complaint against a 54-year-old contract employee for allegedly hiding over 180 million yen in foreign exchange (FX) trading profits to evade taxes, reports TBS News (May 19).
Masaaki Muramatsu is suspected of failing to declare approximately 184 million yen in income over a two-year period ending in 2024, resulting in an estimated tax evasion of 27 million yen.
According to investigative sources, Muramatsu traded in multiple foreign currencies, including the U.S. dollar. He reaped massive profits starting in 2022 as the historic depreciation of the Japanese yen caused the value of his foreign currency holdings to soar.
Despite the windfall, Muramatsu allegedly failed to report the vast majority of his earnings to tax authorities. Investigators believe the illegally withheld funds were pumped directly back into further FX trading.
Addressing the allegations, Muramatsu claims the matter has since been resolved.
“I have already submitted an amended tax return under the direction of the taxation bureau, and I have paid the taxes owed,” he stated.
