The first taxpayer charged in Chicago in an investigation into clients of overseas banks will serve a year and a day in prison after paying almost $4 million in penalties for tax evasion, prosecutors said today.
The owner of a Skokie cemetery monument company, Peter Troost, 78, pleaded guilty in March to evading more than $1 million in taxes.
Troost was indicted earlier this year as part of an investigation into accounts held with UBS, a Swiss banking company, after the U.S. government struck a deal with the company to refrain from prosecuting the company in exchange for information on U.S. taxpayes with UBS accounts, according to a release from the U.S. attorney’s office.
In a hearing today, U.S. District Court Judge John L. Tharp, Jr., also ordered Troost to serve 200 hours of community service after he is released from prison, as well as pay $32,500 in fines, prosecutors said. Troost already has paid more than $1 million in back taxes, as well as $3.75 million in penalties.
Troost admitted to evading taxes between 1999 and 2009, after having at least one off-shore account from 1981 to 2009. Troost under-reported his income, and stated falsely that he had no financial accounts in a foreign country.
Troost owns Troost Memorials in Skokie, as well as the strip mall where the company is headquartered, 9853 Gross Point Road, and another in Arlington Heights. His company has no affiliation with longtime monument company Peter Troost Monument Co. of Hillside, according to prosecutors.
Troost is to begin serving his sentence Dec. 2, prosecutors said.
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