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Tax Evasion Lands Duluth Souvenir Store Owner in Prison
A Duluth man has been sentenced to one year and a day in prison and ordered to pay $620,362 in restitution for evading taxes on his business revenue.
Shimon Shaked, 57, was sentenced by Chief U.S. District Judge John R. Tunheim on after pleading guilty to one count of tax evasion on October 13, 2021.
According to court documents, Shaked owned and operated several t-shirt and souvenir shops in Duluth’s Canal Park tourist zone, including I Love Duluth, I Love Duluth 2, Up North-The Good Life, and the Lake Life. He operated the Duluth Stores under a holding company called ALMS18, LLC, which he formed in 2012.
Shaked listed his teenage daughter as the nominal owner in order to hide and evade taxes on income he received from the company. He failed to report the full revenue and income to the IRS, instead reporting only the credit card sales. The rest of the income was used to pay for personal expenses and some of his employees’ overtime wages in cash.
In total, Shaked evaded paying approximately $620,362 in taxes. The case was the result of an investigation conducted by the Criminal Investigation Division of the IRS.
Assistant U.S. Attorneys Joseph H. Thompson and Angela M. Munoz prosecuted the case.
Shimon Shaked, tax evasion, Minnesota 2021. Shimon Shaked, 57, has been sentenced to one year and a day in prison and ordered to pay $620,362 in restitution for evading taxes on his business revenue. He pleaded guilty to one count of tax evasion on October 13, 2021, and was sentenced by Chief U.S. District Judge John R. Tunheim. The case was the result of an investigation conducted by the Criminal Investigation Division of the IRS, and was prosecuted by Assistant U.S. Attorneys Joseph H. Thompson and Angela M. Munoz.
Key Facts
- State: Minnesota
- Category: White Collar Crime
- Source: DOJ Press Release â†â€â€
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