Two Greene County men were sentenced to six months in jail for conspiring to evade taxes on income from stock sales.

Dennis Radcliffe, 52, and Kenneth Radcliffe, 50, had previously admitted in federal court that they failed to report several million dollars of income earned primarily from selling penny stocks from 2014 through 2017, the U.S. District Attorney’s Office said.

The cousins, who are both from Elka Park, sold the stocks in brokerage accounts in the names of their companies – Crackerjack Classics LLC and Universal Consulting LLC. 

They conspired with each other and Joseph Radcliffe, Dennis’s father, to avoid $500,000 compensation that both companies paid to Joseph from 2013 through 2019. Joseph was a former Wall Street stockbroker and owed the U.S. Securities and Exchange Commission more than $1 million.

Dennis Radcliffe was ordered to pay $77,552 in restitution and Kenneth Radcliffe must pay $152,274.

When handing down the sentence, U.S. District Judge Glenn Suddaby said there was no excuse for their conduct.

“This is just all about greed – pure, unadulterated greed,” Suddaby said in a statement.

Joseph Radcliffe, 76, of Elka Park, had previously pleaded guilty and was sentenced in August 2022 to three years of probation and four weekends in jail. He also must pay $109,106 in restitution.