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Peoria businessman to serve two years in prison for filing false tax returns

Peoria (WEEK) -- A former Peoria businessman has been sentenced to 2 years in prison for filing false corporate tax returns that under-reported the business’s earnings. Yousef Abdallah owned and operated a liquor store in Danville, Illinois , as well as other businesses.

U.S. District Judge Joe Billy McDade sentenced Abdallah, 69, yesterday, April 7, 2021. In addition to the prison sentence, Abdallah, was ordered to pay the IRS $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,”

Acting U.S. Attorney Doug Quivey.

On July 1, 2019, Abdallah pleaded guilty to filing a false corporate tax return for the 2014 tax year.  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 came to the attention of the IRS when he listed his business, Danville Wine & Spirits, Inc., doing business as Danville Liquors, for sale on the internet. His asking price was $425,000 based on sales of $1.56 million per year. However, Abdallah admitted that he did not report all his sales on the income tax return.

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