Honda founders eldest son arrested for Tax Evasion. He headed MUGEN.

http://www.grandprix.com/ns/ns11427.html



japantoday > crime

Mugen head arrested for tax evasion


Tuesday, July 1, 2003 at 16:06 JST
SAITAMA — Public prosecutors arrested Hirotoshi Honda, the president of racing car engine maker Mugen Co, and the firm's former auditor on Tuesday on suspicion of evading some 1 billion yen in corporate tax.

The Saitama District Public Prosecutors Office launched a criminal investigation of the case earlier Tuesday and questioned Honda, 61, the eldest son of Soichiro Honda, the late founder of Honda Motor Co, before arresting him. They also arrested Norio Hirokawa, 60, the company's former auditor, for allegedly conspiring with Honda to conceal income and evade tax. (Kyodo News)

http://[http://mdn.mainichi.co.jp/ne...fp020000c.html
Honda's son arrested over massive tax scam




SAITAMA -- The eldest son of the late Soichiro Honda, the founder of Honda Motor Co. Ltd., was arrested Tuesday over massive tax evasion of an engine manufacturer he runs, officials said.

Hirotoshi Honda's company, Mugen Co., in Asaka, Saitama Prefecture, is suspected of evading the payment of about 1 billion yen in corporate tax by failing to properly declare more than 3 billion yen income for a three-year period until October 2000.

Honda, 61, and Norio Hirokawa, a former auditor to Mugen, played a leading role in the company's tax evasions, said crime busters of the Saitama District Public Prosecutors Office when they arrested the two.

Honda and Hirokawa cooked the company's ledgers with the fictitious cost of materials bought in dealings with a leasing company also run by the Mugen president.

Investigators suspect that Honda and his firm spent the funds on land in Tokyo's Minato-ku.

Mugen technology is known worldwide through the development of engines that won several Formula-1 events.

Honda Motor Co. formerly owned a 40 percent interest in Mugen, but currently no formal relationship exists between the two companies. (Mainichi Shimbun, Japan, July 1, 2003)

 

busted !

 

OWNED

 

guess this means Mugen prices will go up more ....lol

 

1,000,000,000.00 JPY Japan Yen
=
8,373,734.281 USD United States Dollars

If anything Mugan parts will start selling for cheaper..

Company will down size.. loss of trust for the company will lower as well as there stock.. Mugan is a publicly traded company

一致�る銘柄��り��ん。MUGAN�検 索���(コード検索)

 

that might be true as well ......guess maybe i'll finally be able to buy that Mugen ***** shifter at a reasonable price ./...

 

Wow that's crazy. Maybe mugen wings wont cost 1000 bucks anymore..

 

<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by George Knighton &raquo;</TD></TR><TR><TD CLASS="quote">Buy Spoon, dammit.</TD></TR></TABLE>
Yes, from Mike at http://www.ipsracing.com

 

mugen=cheap prices?? thought id never be alive for this...frst on my list is a mugen wing followed by that mugen gauge cluster

 

MUGEN going out of business sale?

 

<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by George Knighton &raquo;</TD></TR><TR><TD CLASS="quote">Buy Spoon, dammit.</TD></TR></TABLE>

Maybe the Spoon guys fingered him, hehe.

 

yeah i read that earlier today wow dude

 

<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by George Knighton &raquo;</TD></TR><TR><TD CLASS="quote">Buy Spoon, dammit.</TD></TR></TABLE>

But Mugen is faster than Spoom slow cars ....

 

i love my mugen dc5!

 

There's no way in heck the company will go down. If anything, the heads of Mugen will fall (pun intended) , and we will continue paying ridiculous prices for m00gen g00dness

 

<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by gary201147 &raquo;</TD></TR><TR><TD CLASS="quote">There's no way in heck the company will go down. If anything, the heads of Mugen will fall (pun intended) , and we will continue paying ridiculous prices for m00gen g00dness </TD></TR></TABLE>

That is soo true in every aspect... Well maybe not all but most.

 

<FONT SIZE="5">Does ANYONE here believe in <u>Innocent until PROVEN Guilty</u>?</FONT>
Because I am simply amazed at some of the negative posts made towards a person who has only been ACCUSED of a crime, that sort of mentality is very ignorant.
If he is CONVICTED of the crime then go and say what you would like, but until then keep it to yourself.