Two Greene County cousins were sentenced to hefty monetary fines in addition to jail time due to unreported income earned from stocks.

Tax Evasion Conspiracy Sentencing For Elka Park Men

A pair of cousins from Elka Park in Greene County New York who neglected to report several million dollars in income from stocks, have been sentenced.

50-year-old Kenneth Radcliffe and 52-year-old Dennis Radcliffe each received a sentence of six months in jail, and a fine of $40,000 a piece for 'conspiring to evade taxes on income earned from stock sales' plus restitution payments.


A third party, Joseph Radcliffe, the father of Dennis Radcliffe, was involved in one of the conspiracies.

The cousins had each previously entered into guilty pleas to two conspiracies outlined below.

In the first conspiracy, they conspired with each other to avoid taxes on their personal income, by failing to report 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”).

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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. Joseph Radcliffe was a former Wall Street stockbroker and at the time he was evading the payment of taxes, he owed more than $1 million to the U.S. Securities and Exchange Commission (SEC), after settling fraud allegations with the SEC in 2011.  Joseph Radcliffe has also failed to repay the SEC.

READ MORE: Kingston, NY Career Criminal Sentenced 

Restitution and Additional Sentencing in Radcliffe Tax Evasion

76-year-old Joseph Radcliffe, father of Dennis, and also of Elka Park, received a sentence back in 2022 after pleading guilty to tax evasion conspiracy, for $109,106 in IRS restitution as well as three years probation and four weekends of jail time.

As part of the announcement by United States Attorney's Office, both Dennis and Kenneth Radcliffe were also ordered to pay restitution to the IRS.

Getty Images
Getty Images

A total of $77,552 was ordered for payment by a US District Judge Glenn T. Suddaby to Dennis Radcliffe, while Kenneth Radcliffe was ordered to pay a restitution of $152,274.

Judge Suddaby did share that there was no excuse for this type of behavior, as the defendants 'come from good people.'

This is just all about greed – pure, unadulterated greed.

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