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Shawano man gets 4 years prison for tax evasion

SHAWANO, WI (WTAQ) - A Shawano man who sold precious metals has been sentenced to four years in a federal prison for evading taxes.

69-year-old Kalmar Gronvall must also pay over $433,000 in restitution.

Federal prosecutors said he did not file income tax returns, after he made over $1.3 million in The Gold and Silver Exchange. It was an Internet business which took in a total of $7 million from 2006 through ’08.

The U.S. Attorney’s office said Gronvall converted his profits to cash, and placed it in a bank account he created in his son’s name.

A federal jury convicted Gronvall in February on three counts of tax evasion.