Jack Griffin, Wire Fraud and Tax Evasion, Pennsylvania 2023

PHILADELPHIA – In a stunning turn of events, 62-year-old Jack Griffin, the principal and founder of Second Story Farming Inc., which did business as Metropolis Farms, has pleaded guilty to wire fraud and tax evasion charges.

According to court documents and statements made in court, Griffin grossly overstated the anticipated revenues that could be generated by the vertical farms and grossly understated the anticipated expenses necessary to operate the vertical farms in contracts with two companies in 2017. Rather than use the funds to provide them with vertical farms, Griffin used most of the money to pay his own personal expenses and operate Second Story Farming’s research and development line of business.

In 2017, Griffin earned income from his work at Second Story Farming. Despite being legally required to file a tax return for that year, Griffin did not do so. Griffin tried to conceal that he received any income in 2017 by withdrawing cash and paying personal expenses from his business’s bank accounts and transferring funds from his business to his wife, and withdrawing cash from Second Story Farming’s business bank account.

Griffin is scheduled to be sentenced on October 22, 2023, and faces a maximum possible penalty of 20 years in prison on each of the wire fraud charges and five years in prison on the tax evasion charge.

This case was investigated by IRS Criminal Investigation, the FBI, and the United States Postal Inspection Service. The case is being prosecuted by Assistant U.S. Attorney Francis Weber and Trial Attorney Catriona Coppler of the Tax Division.

Griffin’s actions have left many in the community reeling, and the case serves as a stark reminder of the importance of financial responsibility and adherence to tax laws.

As the sentencing date approaches, residents of Philadelphia are bracing themselves for the possibility of Griffin’s incarceration, and the impact it may have on his loved ones and the community at large.

Source: https://www.justice.gov/usao-edpa/pr/philadelphia-vertical-farmer-pleads-guilty-wire-fraud-and-tax-evasion