10 Months for Bozo Math

Back in May I wrote about Sung Ho Choi. Mr. Choi was in the process of selling his business, AJ’s Green Dry Cleaners and Laundromat. He happened to show a prospective buyer the computerized sales records. Unfortunately for Mr. Choi, those quite accurate records showed sales that were $194,973 higher than on the tax returns for the business. It seems that Mr. Choi provided only the bank deposit records to his parents (who owned the business) and his accountant.

That prospective purchaser happened to be an undercover IRS investigator. Oops.

Mr. Choi was sentenced last week to ten months at ClubFed, and must also make restitution of $60,537 and pay a $5,000 fine. It would have been far, far easier to just provide accurate records…but that thought process rarely occurs to the Bozo contingent.

One Response to “10 Months for Bozo Math”

  1. […] Boy is this ever a serious problem. Joe Kristan has the story: Even when you get away with tax cheating for a long time, it can come back to bite you. If you are cheating in your business and your prospective buyer wants to see your tax returns, it can be awkward to explain that the business is much more profitable than it would appear to the IRS. Especially when the prospective buyer is an IRS agent.  […]

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