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Customs Broker is Going to Need More than an Ark to Stay Afloat!

Frank Seung Noah, a customs broker in California, was arrested for evading more than 2 million dollars in taxes and engaging in a $3.4 million wire fraud scheme.

Noah owned a company that offered customs brokerage services on behalf of foreign companies, and from 2007 to 2019, was a broker for Daiso, a Japanese store with outlets in Southern California. Noah paid import duties and fees to US Customs Border Protection on behalf of Daiso and then submitted invoices for reimbursement that fraudulently inflated the customs fees. In total Noah overcharged Daiso by $3,379,774.

Noah evaded paying $1,562,684 in taxes assessed for 2008, 2009 and 2010 by making small payments to the IRS because he claimed he didn’t have any money, while at the same time he was making large payments to mortgages that belonged to him but were in his girlfriend’s name.

From 2014 to 2017 Noah cashed more than 7 million dollars in business checks in order to conceal his income. He owes approximately $2,012,618 to the IRS. If convicted he faces up to five years in prison for tax evasion and 20 years in prison for wire fraud.

McCauley Law Offices can help!

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