April 03--The owner of a Chicago-based prepaid phone company pleaded guilty Thursday to federal income tax fraud, according to the U.S. attorney's office in Chicago.
Ken Leon, 47, of Westmont admitted he filed false tax returns on four occasions, from 2009 to 2012, costing the federal government more than $174,000, the office said.
Leon owned Ezbuyphones, a business with three Chicago stores. It sold cellphones and accessories as well as prepaid cellphone minutes.
Leon had put business money into his personal bank accounts and had paid personal expenses, such as mortgage and credit card payments, from his corporate bank account, according to the U.S. attorney's office. He reported that he earned $110,000 in 2012, for example, when he really made $347,546.
Leon faces up to three years in prison and a $250,000 fine. Sentencing is set for June 25.
ehirst@tribpub.com
