Japanese billionaire posts $5 million bail - Hawaii News Now - KGMB and KHNL

Japanese billionaire posts $5 million bail

TOKYO, JAPAN (HawaiiNewsNow) -

Kahala landowner Genshiro Kawamoto has been released from a Tokyo jail after posting a bail of about $5 million.

He was released about two weeks ago.

The real estate tycoon had been locked up since the middle of March when he was charged with tax evasion. He is accused of hiding $30 million in rent money and using some of that to buy statues and other items for his properties in Kahala.

Kawamoto's trial date has not been set, but while he is out on bail awaiting his tax evasion trial, he is prohibited from leaving Japan or traveling abroad.

Related stories:

Japanese billionaire's arrest tied to Kahala property

Billionaire's arrest could affect Hawaii property

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