Mr Ri owns a company in Osaka, Japan. In 2004 he dies after a long business career. His two daughters, Hatsue and Yoshiko, inherit his estate. This includes some property but very little cash. It means that Hatsue and Yoshiko pay a surprisingly small amount of inheritance tax
The tax authorities are suspicious. They know Mr Ri was a very successful property developer. He lived modestly. He did not own expensive assets. Where is all his money?
When they look closely at his bank statements, they notice something very unusual. In the final years of Mr Ri’s life there were regular withdrawals of very large amounts of cash. Cash that amounted to $54 million.
They check the bank accounts of the sisters. They find no trace of the missing millions. The money has vanished
A garden shed
The police search properties owned by the two sisters. Finally the mystery is solved. ‘They hid most of the money in cash in a shed attached to Hatsue's house,’ an Osaka tax official says. ‘We found 50 cardboard boxes packed with cash.’
Hatsue has an explanation: ‘Oh that money!’ she says. ‘I put it there when I was tidying up the house.’ For some reason the police don’t believe her. They charge the sisters with the biggest tax evasion in Japanese history.
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Wonderful materials for English language learners!Ms Fann, ESL teacher, Nashville, USA