An Adel man was recently sentenced to prison for filing a false income tax return | Raccoon Valley Radio

A former resident of Adel was recently sentenced to prison in a federal prison.

According to the Southern District Attorney's Office, 66-year-old Mark Francis Davidson was the majority owner of Collegiate Concepts, Incorporated, which rented dormitory mini-fridges to colleges and college students nationwide. The Southern District U.S. Attorney's Office found that from 2015 to 2021, Davidson embezzled over $3.8 million from the company to himself and then failed to report those earnings to the IRS.

The press release states that Davidson disguised payments to the company's accountant and tax advisor by using fake checkbooks and fake checks from the company to Davidson that looked like legitimate business expenses.

Davidson was sentenced to 18 months in a federal prison for filing a false income tax return. The Southern District Attorney's Office said Davidson will be under supervision for one year after his release from prison because there is no parole period in the federal system. Davidson was also ordered to pay $1,449,620 in restitution to the IRS and a $20,000 fine.