IRS: Peoria resident committed tax fraud

A Peoria business owner is scheduled to be sentenced in September on federal tax evasion charges after IRS officials said he intentionally underreported his total income by about $9.4 million over a five-year period.

Officials said the man, Sung Hwan Lee, owner of BBB Fashion, intentionally underreported his total income by $9,355,894 from 2012 to 2016, according to an IRS press release.

The underreporting resulted in Hwan Lee owing $3,696,786 for 2012 to 2016 on his personal returns.

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