Toledo Man Sentenced to Prison for Filing False Tax Returns and Wire Fraud
Jacques J. Eid, 56, of Perrysburg, Ohio, was sentenced to 30 months in prison by U.S. District Judge James G. Carr, after pleading guilty to filing false tax returns and wire fraud that defrauded educational and government entities.
Eid was also fined $797,151.38 and ordered to pay restitution to the following: U.S. Department of Education, $14,760; Notre Dame Academy, $13,450; St. John’s Jesuit High School, $30,000; and the U.S. Department of Agriculture, $223,575.69.
Eid pleaded guilty to the offenses in court on March 1, 2024, where he admitted to filing false tax returns with the IRS by underreporting taxable income of nearly $880,000 earned as owner of a convenience store, Madison Market, and a restaurant, Le Pam Pam, in Toledo from 2012-2018.
Before the district court-imposed sentence, Eid repaid all taxes and penalties owed to the IRS resulting from his tax offenses.
Eid also admitted falsifying his income on the U.S. Department of Education’s Free Application for Federal Student Aid, commonly known as FAFSA, for one of his children which was then used to determine aid packages at The University of Toledo and the University of Dayton. This resulted in fraudulently obtaining more than $11,000 in Pell Grants and $3,000 in Federal Supplemental Opportunity grants for college.
Jacques J. Eid is the owner of Madison Market and Le Pam Pam in Toledo and was sentenced for filing false tax returns and wire fraud.
The case was prosecuted by Assistant U.S. Attorney Gene Crawford for the Northern District of Ohio. The case was investigated by the Internal Revenue Service–Criminal Investigations, Department of Agriculture Office of Inspector General, and the Department of Education Office of Inspector General.
Key Facts
- State: Ohio
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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