Nome’s Polaris Bar owner indicted on tax evasion, false tax returns

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Published: Nov. 3, 2022 at 1:22 PM AKDT
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ANCHORAGE, Alaska (KTUU) - The owner of the Polaris Bar in Nome has been charged with tax evasion and filing false tax reports after allegedly failing to report $3.2 million in income.

According to a release from the U.S. Attorney’s Office for the District of Alaska, Tina H. Yi of Anchorage and Nome is charged with five counts of tax evasion and five counts of filing a false tax return. If convicted, Yi faces up to 40 years in prison.

The release says that Yi filed inaccurate personal tax returns by submitting false returns to two tax preparation professionals — one who filed her taxes from 2014-2017 and another who filed her taxes in 2018. Yi was the owner and operator of SJ Investments LLC which operated a hotel, liquor store, and the Polaris Bar in Nome. The bar burned on Oct. 31, 2017.

“Yi allegedly maintained two sets of books and records relating to the business’s income and expenses for 2014 through 2017 – one of which accurately captured SJ Investment’s income and expenses, and one that understated the company’s income,” the release said.

The release said that Yi allegedly evaded $1.5 million in federal income taxes by not reporting $3.2 million in income from SJ Investment.