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Yokohama construction firm accused of tax evasion

KANAGAWA (TR) – The Tokyo Regional Taxation Bureau has filed a criminal complaint on suspicion of tax evasion against the 65-year-old president of a construction firm in Yokohama City, reports Jiji Press (May 21).

According to the bureau, Yasuhira Ikegami, the president of Taihei Construction Co., is alleged to have concealed 240 million yen in income over a three-year period ending in 2017.

In not reporting the amount, Ikegami evaded 59 million yen in taxes, the bureau said.

Taihei Construction
Yasuhira Ikegami is the president of Taihei Construction Co. (Twitter)

Ikegami concealed the funds by outsourcing construction work to subcontractors operated by family members at artificially inflated prices, which were shown on fictitious invoices. The president then received kickbacks from the subcontractors.

About 200 million yen of the concealed money was kept for future endeavors. Meanwhile, the remainder was used by Ikegami on gambling, including for bets placed on bicycle (keirin) and horse (keiba) races.

In commenting on the matter, Ikegami said that a revised tax declaration had been submitted and the owed taxes paid. “I am deeply reflecting [upon the matter],” Saito said.