Japanese Billionaire Real Estate Investor Released On Bail

By /
Genshiro Kawamoto, the Japanese billionaire made infamous in Hawaii for the eccentric appearance of his many Kahala properties, was released from a Tokyo jail after posting bail. Kawamoto was arrested for tax evasion.

Japan Today writes that Kawamoto, 81, was arrested for tax evasion and granted bail late last month after posting $500 million yen (or US$5.1 million) in cash. Kawamoto apparently lives in a 5-star hotel in Tokyo. Excerpts from Japan Today:

The Tokyo District Public Prosecutor’s Office special investigation squad accused Kawamoto of hiding 3.5 billion yen in earnings and arrested him in early March. Kawamoto reportedly spearheaded a plot to cover up earnings and avoid paying 1 billion yen in taxes over the three financial years ending December 2011, Sankei Shimbun reported.

Prosecutors alleged that Marugen reportedly had a variety of means of hiding earnings, such as failing to report real rent costs and claiming tenants had failed to pay their rent.

Our own Adrienne LaFrance did a three-part series on the mysterious real estate mogul last year: 

Read our related coverage: 

– Land Barren: Japanese Billionaire Is Raising Eyebrows, Razing Houses

– Land Barren: Who is Genshiro Kawamoto?

– Land Barren: Since 2005, Dozens of Violations at Billionaire’s Properties

image

Photo credit: John Temple, Civil Beat 2011.

— Alice Terry

Trusted news when you need it most

Now more than ever, local news is a vital community resource: connecting neighbors, uplifting voices and sharing information that empowers people to make informed decisions in their everyday lives. Our work is especially critical in times of crises. 

You can help power our coverage and nonprofit mission with a tax-deductible donation of any amount. Mahalo.

Donate

About the Author