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updated: 7/16/2013 1:35 PM

Cook County businessman sentenced for tax evasion

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Daily Herald report

A Cook County businessman was sentenced to a year and a day in federal prison after pleading guilty in March to evading more than $1 million in federal taxes.

Prosecutors said Peter Troost, 78, of Skokie, siphoned money he earned from renting commercial properties and a tombstone manufacturing business over 10 years to an offshore bank account based in Switzerland.

The commercial properties Troost owns are located in Arlington Heights and Skokie. The tombstone business, Troost Memorials, is located in Skokie, according to court records.

Troost, who authorities said is not affiliated with the Hillside-based Peter Troost Monument Co., has repaid the $1,039,343 in taxes that he did not pay between 1999 and 2009. He also paid a civil penalty of roughly $3.75 million, prosecutors said.

In addition, authorities said Troost failed to pay taxes on interest earned on his offshore account. At his sentencing, the judge ordered Troost to pay an additional $32,500 and serve 200 hours of community service upon his release from prison. Troost will begin serving his sentence Dec. 2, prosecutors said.

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