Local gas station owner sentenced for fraud, tax evasion

PEORIA - A New Jersey man who owned four Peoria area gas stations is will spend 21 months in federal prison for multiple charges. 

In December 2016, 35-year-old Adnan Rashid pleaded guilty to mail fraud and tax evasion. According to court documents, Rashid owned two Marathon gas stations in Peoria, and was a 50% owner of two other Marathon stations in Peoria. 

Rashid admitted to underreporting or failing to report sales at the four stations on federal corporate tax returns, as well as the Illinois sales and use tax returns. He also said he altered the stations' gross receipt data before providing it to his accountant. Rashid had more than $41 million in unreported gross receipts for the gas stations and $1 million in unreported personal income. 

In addition to the 21 months in prison, Rashid will pay $1.5 million for underreporting sales on federal corporate and Illinois sales tax returns and for later failing to file corporate returns. H must also pay $1.28 million in restitution to the state of Illinois and more than $200,000 to the IRS. Rashid will begin his prison sentence May 30.


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