esoteric1

Damn! Sounds like you traders need to track down his lady and get some advice!

Quote:

Housewife Hid Millions in Currency Gains Aug 24, 10:29 AM (ET) TOKYO (AP) - A Japanese housewife who made $3.4 million as an amateur foreign exchange trader was convicted Friday of evading taxes from the profits, according to media reports. Yukiko Ikebe, 60, was given a suspended prison term and a fine of $293,000 in Tokyo District Court, the Nikkei business newspaper reported. She invested the inheritance from her mother into foreign exchange trade and made $3.4 million between 2003 and 2005, hiding about a third of the earnings in accounts under her relatives' names, the Nikkei said. Ikebe mostly spent the hidden income on expensive kimonos, jewelry and vacations, the Mainichi newspaper said. "She hardly understood her duty as a taxpayer," the paper quoted Judge Takuo Sato as saying. Along with stock trading, foreign exchange trade has become popular among Japanese retail investors in recent years, as the country's low interest rates have prompted them to seek more profitable investment tools.

http://apnews1.iwon.com//article/200...D8R7ENJ80.html


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Another interesting read:

Stock Market Gyrations and the “Yen Carry” Trade:

http://www.marketoracle.co.uk/Article1907.html

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