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09-10-2003, 11:45 AM
From the October issue of Car & Driver:
Hirotoshi Honda, son of Honda founder Soichiro Honda and head of the Mugen aftermarket parts operation, was arrested on charges of tax evasion after failing to declare more than $25 million in revenue over a three year period, thus avoiding a tax payment of about $8.5 million. As a result, Hirotoshi has stepped down as company president and removed himself from any mangerial role. However, Mugen will continue its relationship with Honda.
Whoops!
Hirotoshi Honda, son of Honda founder Soichiro Honda and head of the Mugen aftermarket parts operation, was arrested on charges of tax evasion after failing to declare more than $25 million in revenue over a three year period, thus avoiding a tax payment of about $8.5 million. As a result, Hirotoshi has stepped down as company president and removed himself from any mangerial role. However, Mugen will continue its relationship with Honda.
Whoops!