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Duluth Man Sentenced After Evading Over $620,000 in Taxes
MINNEAPOLIS -- A Duluth man has been sentenced for failing to properly report his business revenue and income to the IRS.
The U.S. Attorney's Office says on Tuesday, 57-year-old Shimon Shaked was sentenced to one year and one day in prison and ordered to pay over $620,000 in restitution.
Court records show Shaked owned and operated multiple t-shirt and souvenir shops around Canal Park between June 2019 and April 2020 including I Love Duluth, I Love Duluth 2, Lake Life, and Up North-The Good Life.
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The attorney's office says Shaked listed his teenage daughter as the nominal owner of the holding company ALMS18, LLC which he started in 2012. According to the documents, Shaked only reported the credit card sales for his businesses and not the cash sales.
Court records also show he used some of the money from the cash sales to pay the overtime wages of his employees.
In October 2021, Shaked pleaded guilty to one count of tax evasion.
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