Staff Pacific Business News | Apr 17, 2013, 6:59am HST
Japanese real estate investor Genshiro Kawamoto, who owns more than two dozen homes in Honolulu’s posh Kahala neighborhood, was released from a Tokyo jail nearly a month after being arrested on tax evasion charges tied to his commercial real estate holdings in Japan.
Japan Today reports Kawamoto was released on bail after posting about $5 million in cash on March 28, more than three weeks after he was arrested on charges that he spearheaded a plot to cover up some $35 million in rental earnings to avoid paying some $10 million in taxes over a three-year period ending in December 2011.
Hawaii News Now reports Kawamoto is accused of using some of that money to buy statues and other items for his properties in Kahala. Hawaii News Now reports that while on bail, Kawamoto is prohibited from leaving Japan.