A federal jury in Peoria, Illinois, has convicted Jalal Nimer Asad, 61, of Lindenhurst, on twenty-one felony counts related to tax fraud and financial crimes. The verdict was delivered on September 10, 2025, after a trial that included seven days of testimony.
Asad was found guilty in two separate but connected cases. In the first case, he was convicted of conspiracy to defraud the United States and violate tax laws, six counts of tax evasion, and nine counts of mail fraud. In the second case, he was convicted of conspiracy to structure financial transactions and four counts of structuring transactions to avoid bank reporting requirements. Sentencing is scheduled for January 8, 2026, at the U.S. Courthouse in Peoria.
Evidence presented during the trial showed that Asad led a group that operated several convenience and liquor stores in central Illinois. According to prosecutors, Asad and his associates maintained two sets of books—one accurate and one falsified—to underreport income and reduce state and federal tax payments. The government also demonstrated that Asad structured cash withdrawals totaling more than $4 million to avoid triggering mandatory bank reports.
A federal grand jury indicted Asad and others in 2009. While his co-defendants either pleaded guilty or were convicted over fifteen years ago, Asad had remained overseas until recently returning to the United States.
The court has allowed Asad to remain free on bond pending sentencing. He faces statutory penalties of up to twenty years in prison.
The investigation was conducted by the Internal Revenue Service and the Federal Bureau of Investigation's Springfield Field Office with assistance from local law enforcement agencies including the Decatur Police Department. Supervisory Assistant United States Attorney Eugene L. Miller and Assistant United States Attorney Douglas F. McMeyer prosecuted the case at trial.
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