MAN FACES 5 YEARS FOR UNREPORTED INCOME
Jay Bruce Bernstein, 62, formerly of Paradise Valley, Ariz., pleaded guilty to one count of tax evasion. The charge was connected with $744,048 he received in 1998 from selling his convenience store businesses to The Circle K Corporation.
The government alleged Bernstein provided false documents and statements to an employee of the IRS to conceal the income. At the plea hearing, Bernstein admitted that in April 1994, as the president of Kwik-Stop Corporation and as the general partner of Kwik-Stop limited partnership, he entered into a contract to sell 16 Kwik-Stop stores to The Circle K Corporation for $744,084, an amount that was not included on Bernstein’s tax return.
He faces up to five years in prison and a fine of up to $250,000.
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