ALBANY – A 75-year-old Elka Park man was sentenced in Albany federal court on Friday to three years of probation and to spend four consecutive weekends in jail as a condition of his probation for conspiring with others to evade taxes on income earned from stock sales.
Joseph Radcliffe, 75, a former Wall Street stockbroker, pled guilty in December 2021 admitting that from at least 2013 to 2019, he conspired with two family members to receive hundreds of thousands of dollars in personal income that went unreported to the IRS, allowing him to defraud the IRS and evade the assessment and payment of taxes on approximately $500,000 in unreported income.
At the time he was evading the taxes, Radcliffe also owed more than $1 million to the US Securities and Exchange Commission after settling fraud allegations with the SEC in 2011. He has also failed to repay the SEC.
