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12/5/2016
11:40 AM
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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.

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.

Dark Reading's Quick Hits delivers a brief synopsis and summary of the significance of breaking news events. For more information from the original source of the news item, please follow the link provided in this article. View Full Bio

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