Instead of posting to the Original "Mugen In Court Trouble" Thread and having people overlook the post I thought I would make a new thread and hopefully people read the entire thing.

http://www.mugen-power.com/en/houjinzei.htm

<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by Mugen Co., Ltd. &raquo;</TD></TR><TR><TD CLASS="quote">
July 3, 2003

Dear Sirs:
1. To our sincere regret, we were subjected to the investigation by the Saitama District Public Procurator's Office on July 1, 2003 on the suspicion of violation of the Corporation Tax Law. In addition, our Representative Director, Hirotoshi Honda, as well as a former auditor, Norio Hirokawa were arrested.

The nature of suspicion was the tax evasion amounting to more than two billion yen arising out from funds transfers through unlawful accounting procedures which were led principally by the former auditor, Norio Hirokawa.


2. We wish to deeply express our regret for inviting such situation, and apologize all motor fans and enthusiasts who have been supporting our company, for causing worry and unpleasant feelings.

3. The tax evasion suspicion of this case was committed as a part of misappropriation of assets by the former auditor Norio Hirokawa we accused of embezzlement in conduct of business, etc. Representative Director, Hirotoshi Honda, explained repeatedly during the course of investigation since July 2001, that the violation of Corporation Tax Law was committed as a part of assets embezzlement by Norio Hirokawa and that Hirotoshi Honda has never conspired with or permitted the act of Norio Hirokawa with the intention to recognize his tax evasion act. We fully cooperated with the investigation by the authority, but to our regret, we have not been able to obtain the understanding of authority. So we are intending to prove the innocence of Hirotoshi Honda with our maximum efforts.

4. Representative Director, Hirotoshi Honda, accepted the seriousness of this case as the chief executive officer and he intends to clarify the management responsibility including his course of action. We have been advancing drastic improvement including the measures to prevent recurrence of a case in this nature and intend to restart as "New Mugen".

5. We intend to maintain fullest extent our organization in order not to cause any troubles as a result of the case, in services and supply of parts to our customers with the cooperation of our major customer, Messrs. Honda Motor Co., Ltd. Also, all of our officers and employees firmly believe the innocence of Hirotoshi Honda. We, therefore, sincerely request all our customers ever lasting support and understanding in this regard.


Sincerely,
Mugen Co., Ltd.
</TD></TR></TABLE>

 

well handled.
nice P/R inside 48hrs of newsbreak.
i'm pretty sure everything will remain unchanged, but still, they didn't need this sort of publicity after everything else.

best of luck to them



Modified by n1ek at 11:48 PM 7/3/2003

 

 

<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by George Knighton &raquo;</TD></TR><TR><TD CLASS="quote">Good to hear the other side.</TD></TR></TABLE>

George, unfortunately there are alot who are so quick to jump on the band wagon to bash a company or someone without hearing the other side out. Whether we choose to believe it or not, there's three sides to the story. Mugen's side, Prosecuter/Investigator's side, and the truth.

 

I thought it was gonna be addressed directly to HT

 

interesting...

 

<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by George Knighton &raquo;</TD></TR><TR><TD CLASS="quote">Nous fabriquons une vérité pour épargner des vies. </TD></TR></TABLE>

"We make truth to save lives."

Is that correct?

 

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

Nous fabriquons une vérité pour épargner des vies. </TD></TR></TABLE>

...and to drink...peru!

 

in before chris n tells us the *thruth* on the whole matter

it will be interesting to hear how everything pans out within the next few months. It sounds like little if any problems with some from this in terms of what the end customer gets.

mike, do you know if this was a japenese translation?

 

<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by RTW DC2 &raquo;</TD></TR><TR><TD CLASS="quote">I thought it was gonna be addressed directly to HT

</TD></TR></TABLE>

Despite the complacency we all suffer, there are many times more out there than HT.

 

<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by len &raquo;</TD></TR><TR><TD CLASS="quote">

"We make truth to save lives."

Is that correct? </TD></TR></TABLE>

Looks good to me

Though épargner threw me...


Pat, who hasn't looked at the French language since junior year at State

 

I guess this is one of the benefits of a corporate organization: even if the VP gets arrested and put away, the company can continue to function. Of course, for other corporations, that's not such a good thing, but we all love Mugen (even if I-er, I mean, WE can't afford any of their stuff). Maybe if we bitch and moan enough they'll actually throw a passenger seat into their DC5R and give rides at the next Expo as a form of penance...

 

Sounds better, I knew Mugen was legit. We'll just have to see how it plays out. Until then Mugen has my full support as it always has.

 

Man, I go out of town for a week and the whole world collapses...

 

<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by Bob-DC2 &raquo;</TD></TR><TR><TD CLASS="quote">mike, do you know if this was a japenese translation?</TD></TR></TABLE>

Not sure, I would guess it was originally written up in Japanese and then they had someone translate it to English.

I've been following this closely since I heard about it and have talked to Scott at King about it, This was the Official Press Release by Mugen and I told him I'd post it here so that HT members may hear the other side of the story.

 

i'd still buy there chit and support them. to m00gen.

who wishes he had that kind of money to embezile(sp)

 

<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by Bob-DC2 &raquo;</TD></TR><TR><TD CLASS="quote">in before chris n tells us the *thruth* on the whole matte</TD></TR></TABLE>

You surprise me Bob. I never knew you were such an idiot before.

Anyone who missed the fact that Chris N was making fun of HT bandwagoner's is an idiot, and you clearly missed the boat.

to Mugen's PR dept.

 

Speculation blows...

 

Thanks for the heads up Mike! I guess we'll have to wait and see what happens.

 

Looks like i've been on a desert island for the past few weeks...

 

<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by len &raquo;</TD></TR><TR><TD CLASS="quote">

George, unfortunately there are alot who are so quick to jump on the band wagon to bash a company or someone without hearing the other side out. Whether we choose to believe it or not, there's three sides to the story. Mugen's side, Prosecuter/Investigator's side, and the truth.</TD></TR></TABLE>

band wagoner's
guys who bash band wagoner's (ie Christ N) ...who are you to say that they are band wagon jumpers; their posts could have been their sincere, and orginal thoughts...why not give ppl the benefit of the doubt

While I don't agree with tax evasion, I realize that it is a fact of life and that it couldn't be eliminated
Even if Mugen did evade taxes (they have denied it), I don't see a huge problem with it

 

<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by FizzleDaKlown &raquo;</TD></TR><TR><TD CLASS="quote">

You surprise me Bob. I never knew you were such an idiot before.

Anyone who missed the fact that Chris N was making fun of HT bandwagoner's is an idiot, and you clearly missed the boat.

to Mugen's PR dept.</TD></TR></TABLE>

No wonder you don't have any friends. *gives hug* you're still my buddy dave.

 

BTW here is the Original PR in Japanese

http://www.mugen-power.com/topics/houjinzeihou.htm

 

<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by Mike M &raquo;</TD></TR><TR><TD CLASS="quote">BTW here is the Original PR in Japanese

http://www.mugen-power.com/topics/houjinzeihou.htm</TD></TR></TABLE>

EEK!

Well, I'm glad that Mugen will continue to make parts. I will say that some of their products are overpriced. You must admit, though, that they make quality items.

 

their english is quite good