Ex-Islamic Foundation finance director admits theft
The former finance director of the Islamic Foundation in Villa Park faces up to 15 years in prison after pleading guilty to stealing approximately $500,000 from his former employer.
Inam Rahim, 60, of the 1700 block of Conan Doyle Road in Naperville, pleaded guilty to theft of over $100,000 moments before a jury was to be selected for his trial Monday.
Prosecutors say Rahim stole more than $624,000, between May 2009 and June 2011 by paying himself significantly more than his $69,500 annual salary and placing his wife, who did not work at the center, on the payroll.
Assistant State's Attorney Shanti Kulkarni said Rahim profited to the tune of $533,000 but said the foundation's loss is more than $624,000 because of benefits and payroll taxes that also were paid.
The loss was discovered in August 2011 during a payroll review.
Rahim initially was charged in April 2012 with stealing more than $200,000, but a lengthy review of bank records eventually turned up the larger sums.
"When questioned by police, the defendant admitted taking money he felt he was owed for previous services," Kulkarni said. "He self-paid himself the funds he felt he deserved."
Kulkarni said Rahim told police he was planning to discuss his accounting methods with foundation officials but, at the time of his arrest, "he hadn't gotten around to it yet."
"For more than two years, Inam Rahim used the bank accounts of the Islamic Foundation as his own personal piggy bank to the tune of more than half a million dollars," DuPage County State's Attorney Robert Berlin said Monday in a written statement. "Because defendants in financial crimes are often times very familiar with their victim's financial situation and have earned their trust, these types of crimes can be very difficult to uncover."
Rahim, who has no prior criminal record, faces either probation or a sentence ranging from four to 15 years in prison. He has been free on $20,000 bail since his April 2012 arrest.
Rahim's sentencing is scheduled for 10 a.m. May 18 before DuPage County Judge John Kinsella.