A former Adel resident was recently sentenced to federal prison.

According to the US Attorney’s Southern District Office, 66-year-old Mark Francis Davidson was the majority shareholder of Collegiate Concepts, Incorporated that rented dorm minifridges to colleges and college students across the country. The US Southern District Attorney found that from 2015-2021, Davidson diverted over $3.8 million to himself from the corporation and then failed to report that income to the IRS. 

The press release states that Davidson concealed the payments from the company’s accountant and tax preparer with falsified check ledgers with fake checks from the company to Davidson that looked like legitimate business expenses.

Davidson was sentenced to 18 months in federal prison for filing a false income tax return. The US Southern District Attorney’s Office says once Davidson is released from prison, he will be under supervision for one year, since there is no parole in the federal system. Davidson was also ordered to pay $1,449,620 in restitution to the IRS and a fine of $20,000.