Man sentenced to 2 years in prison for filing false business tax returns

News

PEORIA, Ill. (WCIA) — Officials said a former-Peoria businessman has been sentenced to two years in prison for filing false business tax returns.

In a news release, officials said U.S. District Judge Joe Billy McDade sentenced 69-year-old Yousef Abdallah on Tuesday.

“On July 1, 2019, Abdallah pleaded guilty to filing a false corporate tax return for the 2014 tax year,” said officials. They continued to say that according to court documents, he listed his business, Danville Wine & Spirits, Inc. (Danville Liquors), for sale on the internet. He was asking for $425,000 “based on touted sales of $1.56 million per year.” However, officials stated he admitted that he did not report all of his sales on the income tax return.

“As part of his plea, he agreed to pay restitution to the IRS for tax years 2013, 2014, and 2015, for which he had approximately $1 million in unreported gross sales.”

Abdallah, who lives in Danville, was ordered to pay the IRS restitution of $176,196 and was fined $15,000.

“As we enter tax season, it is important to remember that submitting fraudulent tax returns is a crime that will be prosecuted and it is a crime that ultimately causes all of us to pay higher taxes,” said Acting U.S. Attorney Doug Quivey.

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