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Software Salesman Pleads Guilty To PoS Scam
Washington's John Yin allegedly sold point-of-sale systems with revenue suppression software, incurring government monetary loss of $3.4 million.
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A Washington state man has pleaded guilty to wire fraud for selling revenue-suppression software (RSS) to hospitality and retail businesses for tax evasion purposes in a scam that cost the US government more than $3.4 million.
The US Department of Justice (DoJ) says John Yin sold a software program called Tax Zapper that allowed users to portray inaccurate sales figures, thus lowering their tax obligations.
According to DoJ, Yin illegally sold point-of-sale (POS) systems with inbuilt RSS for Canadian company Profitek. The RSS modified the business POS database, allowing it to under-report sales figures. Prosecutors say eight Seattle restaurants used the RSS between 2010 and 2013, resulting in a loss in taxes of up to $910,000.
Yin will pay restitution of $3,445,589. Sentencing will be in February 2017.
For more, see the DoJ release.
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