Mt. Vernon Register-News

State News

February 28, 2013

Feds charge Skokie business owner with tax evasion


CHICAGO (AP) — Federal prosecutors say a 78-year-old Skokie business owner is charged with tax evasion for stashing money in a secret offshore account.

Peter Troost was charged late Tuesday in U.S. District Court; the charge was announced Wednesday.

Officials say he owns Troost Memorials in Skokie, which sells cemetery monuments and gravestones, and a strip mall in Arlington Heights.

The complaint alleges Troost owed more than $212,000 in federal income tax in 2007, but transferred most of it to an offshore account with the Switzerland-based financial services firm UBS.

He then allegedly reported far less income on tax returns, stating he did not have a foreign bank account.

Troost faces 5 years in prison and a $250,000 fine if convicted.

Officials say he's not affiliated with Peter Troost Monument Co. in Hillside.

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