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He was sentenced to 12 months and one day in prison for undervaluing imported clothing.

Sang Bum Noh is the owner of a wholesale clothing company located in the fashion district of downtown LA.  Noh failed to report millions of dollars in income and large cash transactions.  He was sentenced to 12 months and one day in prison for undervaluing imported clothing.

Noh undervalued imports from China for about four years by about 82.6 million dollars.  This reduced the amount he owed in tariffs by 17.1 million dollars.

Noh was recording cash transactions and credit card sales separately.  He never reported the cash sales on his tax returns and underreported the credit card sales.  Over a two-year period, Noh received 365 cash payments for more than $10,000.  This totaled 11.1 million dollars.

$35 million dollars was found in cash in shoeboxes and garbage bags by authorities when they searched Noh’s home.  This money was used to pay back the IRS and Customs and Border Protections.  There is a forfeiture money judgment on the case of $81,564,856, and an additional forfeiture of $1,104,997 from seized funds[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][us_image image=”2823″][/vc_column][/vc_row]