Alaskan Tax Evader Might Not See the Light of Day for Years

[vc_row][vc_column][vc_column_text]Tina Yi was indicted for filing false tax returns that underreported her income  from a hotel, bar, and liquor store she owned in Nome, Alaska

Yi started the business in 2007 and between 2014 and 2017 evaded approximately 1.5 million dollars in taxes. She kept two sets of books, one that accurately kept track of income and expenses, and one that understated the company’s income. Yi provided the false records to her accountant and ultimately underreported her income by more than 3.2 million dollars.

In October of 2017 a fire destroyed Yi’s business, killing a long time resident of Nome, and ultimately leading to the discovery of the tax fraud. She received a 1.8 million dollar insurance payout but the discrepancy in her accounting systems was discovered when Yi submitted financial records to a forensic CPA as part of the insurance claim.

If convicted, Yi faces a maximum for 40 years in prison, as well as restitution.[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][us_image image=”3527″][/vc_column][/vc_row]