Evan Knoll, who pleaded guilty in July to a $100 million bank …
Evan Knoll, in a photo provided by the US Marshals Service (July 25, 2012)
Evan Knoll, in a photo provided by the US Marshals Service (July 25, 2012)
A southwestern Michigan man has been accused of collecting tens…
Evan Knoll owes $15 million to banks and is holding an online auction to help pay that …
Updated: Wednesday, 21 Nov 2012, 5:41 PM EST
Published : Wednesday, 21 Nov 2012, 5:41 PM EST
GRAND RAPIDS, Mich. (WOOD) - Evan Knoll, who pleaded guilty in July to a $100 million bank fraud, was sentenced to 14 years in prison and ordered to repay the Internal Revenue Service nearly $83 million.
"It is shocking how much federal tax money was stolen by this defendant. Evan Knoll lied to banks, accountants, business partners, his employees, the community he lived in and to the Internal Revenue Service for many years," US Attorney Patrick Miles said in a statement after the sentencing.
Once he's released, he'll be supervised for five years.
Knoll, whose Torco Racing is also known as General Sales and Service (GS&S), admitted he created false documents between September 2004 - February 2008 that showed his company sold large amounts of tax-exempt racing fuel. He then used those records to file with the IRS and requested refunds for the fuel taxes he supposedly paid.
Overall, he requested refunds of more than $100 million from the IRS, and received more than $80 million in refunds.
After his plea in July, he was freed on bond with sentencing set for November 21.
But his bond was revoked and he was incarcerated on November 6 after allegedly trying to regain possession of his guns and threatened a witness.
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Great Lakes Kite Festival in Grand Haven on Saturday, May 18, 2013.
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