ELKA PARK, N.Y. (NEWS10) — A Greene County man has pleaded guilty to a tax evasion conspiracy. The United States Department of Justice (DOJ) said Joseph Radcliffe, 74, of Elka Park, has pleaded guilty to conspiring with others to evade taxes on personal income earned from stock sales.

The former Wall Street stockbroker admitted that from at least 2013 through 2019, he conspired with two family members to receive hundreds of thousands of dollars that went unreported to the Internal Revenue Service (IRS). DOJ said this allowed him to defraud the IRS and evade paying taxes on about $500,000 in unreported income.

The unreported income originated from capital gains earned in brokerage accounts in the names of Crackerjack Classics LLC and Universal Consulting LLC.  These companies made payments to Radcliffe including:

  • $128,147 in mortgage payments and interest to the bank that held the mortgage on Radcliffe’s house in Elka Park
  • $109,022 paid to a New Jersey law firm to settle Radcliffe’s unpaid bills
  • $99,675 in checks made out to “Cash,” which Radcliffe negotiated for himself or had others negotiate for him

Radcliffe also admitted that he did not file a tax return for himself or report his income to the IRS for the tax years 2013 through 2019. DOJ said he did not maintain any bank or brokerage accounts in his name, and he did not hold or trade any securities in his own name.

Radcliffe faces up to five years in prison and a maximum $250,000 fine. DOJ said he will also be ordered to pay restitution to the IRS. He is scheduled to be sentenced on April 28, 2022.