Date: March 30, 2023 Contact: newsroom@ci.irs.gov Albany, NY — Dennis Radcliffe and Kenneth Radcliffe, each of Elka Park, New York, pled guilty today to conspiring to evade taxes on income earned from stock sales. United States Attorney Carla B. Freedman and Thomas Fattorusso, Special Agent in Charge, New York Field Office, Internal Revenue Service-Criminal Investigation (IRS-CI), made the announcement. Dennis Radcliffe and Kenneth Radcliffe, who are cousins, each pled guilty to two conspiracies. In the first conspiracy, they conspired with each other to avoid taxes on their personal income, by failing to report to the IRS several million dollars of income earned principally from sales of penny stocks, from 2014 through 2017. The stock sales occurred in brokerage accounts that Dennis Radcliffe and Kenneth Radcliffe controlled, and which stood in the names of their companies Crackerjack Classics LLC ("Crackerjack") and Universal Consulting LLC ("Universal"). In the second conspiracy, Dennis Radcliffe and Kenneth Radcliffe conspired with each other and with Joseph Radcliffe, Dennis's father, to avoid taxes on approximately $500,000 in compensation that Crackerjack and Universal paid to Joseph, from 2013 through 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 of Elka Park, was 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. IRS-CI investigated this case, and Assistant U.S. Attorney Michael Barnett is prosecuting this case.
