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Business / In Brief • March 30, 2012

March 30, 2012
The Maui News

Hilo gas sets record price: $4.71 gallon

HILO - The average gas price in Hilo has reached another record high.

AAA Hawaii says Thursday's average price for a gallon of unleaded is $4.71 in Hilo, breaking a record of $4.66 that was set just a week ago. Thursday's price is 21 cents more than a month ago and 46 cents higher than this time last year.

The statewide average is $4.57, seven cents more than a week ago, 26 cents more than a month ago and 34 cents more than a year ago.

Hawaii continues to have the most expensive gas in the country, followed by Alaska, with an average price of $4.34, and California, with an average price of $4.32.

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Prison for firearms dealer's tax evasion

HONOLULU - A Honolulu firearms dealer convicted of tax evasion has been sentenced to more than four years in prison and must pay $1 million in restitution to the Internal Revenue Service.

The IRS and the Justice Department announced Wednesday that a federal judge sentenced Arthur Lee Ong to 51 months in prison. A federal jury in November convicted him of conspiracy to defraud the United States and six counts of tax evasion.

Ong was the owner and operator of Thunder Bug Inc., doing business as Magnum Firearms. An indictment alleged he didn't report to the IRS millions of dollars of income he earned from the sale of firearms and related products to federal, state, county and military agencies, as well as to the public.

 
 

 

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