Kapampangan in tax evasion
December 26, 2007
COLOMA, California Rene Medina, 63, the top Kapampangan benefactor of Pampangas oldest secondary public school, has been sentenced by a US district court from one to two years in jail after he pleaded guilty to three counts of tax evasion charges.
Medina, a native of Arayat, Pampanga, is the owner of the Lucky Chances Casino in Coloma, California. He has conducted various socio-civic projects in the Philippines, including funding for his alma mater, the Pampanga High School (PHS). The Bulwagang Kapampangan, a multi-purpose hall of the PHS, has been renamed after Medina, who funded the construction of the building.
In pleading guilty, Medina admitted that from July 7, 1999 through June of 2007, he was the sole shareholder of Lucky Chances, which filed US Income Tax Returns (ITRs) for a Subchapter S Corporation (Form 1120S) with the International Revenue Service (IRS) for the tax years 1999, 2000, and 2001, the US Department of Justice said. In filing as a Subchapter S Corporation, Lucky Chances paid no corporate income tax but its ordinary income was reported by Medina as a shareholder on his personal income tax returns, the statement said. Medina pleaded guilty to evading payment of his federal income taxes by causing Lucky Chances to make payments for personal expenses and fictitious business expenses in the amount of US$1,129,901. These payments were expensed by Lucky Chances on its books, records and tax returns as ordinary and necessary business expenses.
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