Southern California merchant sentenced for huge tax evasion
LOS ANGELES (AP) — A Southern California clothing store owner who failed to report tens of millions of dollars in sales has been sentenced for tax evasion.
Jeong Kim got two years in prison on Wednesday.
Kim owned and operated more than 50 retail clothing stores in Los Angeles, Orange, San Diego, San Bernardino and Ventura counties.
Prosecutors say from 2010 through 2016, he avoided paying $5.6 million in sales, income and payroll taxes while failing to report tens of millions of dollars in sales and wages.
He has paid more than $7.5 million in restitution and pleaded guilty this year to evading sales taxes, failing to pay taxes, workers’ compensation fraud and filling false income tax returns.