Chung Tuyen La, a businessman from Christchurch, New Zealand has been sentenced to three years in prison by the district court after he confessed to charges of fraud and tax evasion.
The businessman had lost almost NZ$ 900,000 in casinos. Tuyen La had been manipulating his tax records and filed false returns to keep himself from paying $900,000 in tax.
He had been gaining funds from Casinos and was not mentioning it on his tax returns. The businessman continued to provide the tax authorities fabricated information for over seven years.
Financial records brought before the court reveal that the guilty had lost at least $895,014 in casinos over a period of 7 years. The allegations against Tuyen La was that he had filed 16 false GST and income tax returns between 2009 and 2014.
The businessman managed to evade the authorities as he used to transfer the funds from his partnership business to his account and also to accounts of his members.
The investigation found that several cheques that were issued against business invoices were drawn in Tuyen La’s account.
While the businessman has denied being a gambling addict, the District Court did suspect that he was suffering from gambling addiction.
The fact that most of the funds that the businessman tried to hide from the authorities he spent at the casinos.
Along with three years in the prison, the District Court has also imposed $818,400 fine on Tuyen La.
While he has maintained that he is not addicted to gambling and his sole purpose of visiting casinos was limited to entertainment and fun district judge along with experts seemed to believe otherwise.