The owner of an Eastern Kentucky gas station admitted in federal court Thursday that she tried to avoid reporting company transactions to the Internal Revenue Service, according to the U.S. Department of Justice.
Bernice Adams, 48, of Lexington pleaded guilty in U.S. District Court in Lexington. Adams owns Apeyard Market, a gas station in Laurel County.
Adams admitted that she made deposits at Cumberland Valley National Bank in increments less than $10,000, the department said. The deposits totaled more than $200,000.
According to the IRS Criminal Investigations Unit, financial institutions that receive more than $10,000 in cash in one or more related transactions must file a currency transaction report with the federal government to report the activity.
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Adams faces up to five years in prison and a $250,000 fine. She is scheduled for sentencing at 3 p.m. April 8.