JULY 22, 2003
Honda Jr is formally charged with tax evasion
Hirotoshi Honda, the former boss the Mugen engine company has been charged with evading $8.4m in corporate taxation. The 61-year-old is alleged to have hidden a large amount of Mugen income in another company and to have faked deals to cover it. Honda could face up to five years in prison or a maximum fine of US$42,000. The company auditor Norio Hirokawa was also charged It is understood that Honda admitted most of the allegations before being charged.
There are reports that some of the money was used to buy land in Tokyo on which to build a memorial to Hirotoshi's father Soichiro, the founder of the Honda Motor Company.
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