Radcliffe Men, Tax Evasion Conspiracy, New York 2023

ALBANY, NEW YORK – In a shocking turn of events, Dennis Radcliffe, 51, and Kenneth Radcliffe, 49, both of Elka Park, New York, have pleaded guilty to conspiring to evade taxes on income earned from stock sales.

The two cousins, who are business partners, stand accused of conspiring to avoid paying taxes on several million dollars in income earned from sales of penny stocks between 2014 and 2017. The stock sales took place in brokerage accounts controlled by the Radcliffes through their companies Crackerjack Classics LLC (“Crackerjack”) and Universal Consulting LLC (“Universal”).

According to the U.S. Attorney's office, the Radcliffes conspired with each other to evade taxes on their personal income, as well as with Joseph Radcliffe, Dennis's father, to avoid paying taxes on approximately $500,000 in compensation that Crackerjack and Universal paid to Joseph between 2013 and 2019.

When they are sentenced on August 10, 2023, Dennis Radcliffe and Kenneth Radcliffe each face up to 5 years in prison and a maximum $250,000 fine. A defendant's sentence is imposed by a judge based on the particular statute the defendant is charged with violating, the U.S. Sentencing Guidelines and other factors.

Dennis Radcliffe has agreed to pay $77,552 in restitution to the IRS, and Kenneth Radcliffe has agreed to pay an additional $152,274 in restitution. Joseph Radcliffe, age 76, of Elka Park, was previously sentenced in August 2022 to three years of probation, to spend four consecutive weekends in jail as a condition of his probation, and to pay $109,106 in restitution to the IRS, following his guilty plea to tax evasion conspiracy.

The IRS-CI investigated this case, and Assistant U.S. Attorney Michael Barnett is prosecuting this case. The case highlights the importance of tax compliance and the consequences of tax evasion.

Dennis Radcliffe and Kenneth Radcliffe are scheduled to be sentenced on August 10, 2023. The public can expect a more detailed report on the sentencing and any potential outcomes.

Source: https://www.justice.gov/usao-ndny/pr/greene-county-men-plead-guilty-tax-evasion-conspiracy