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.