Two officers of a Canton, Mass., scrap metal company were charged in federal court with subscribing to false income tax returns.
United States Attorney Michael Sullivan and Joseph A. Galasso, Special Agent in Charge of the U.S. Internal Revenue Service, Criminal Investigation, announced that Richard Kradin, and Robert Kradin were charged in a criminal Information with subscribing to false individual and corporate U.S. income tax returns for the years 1996 to 1999.
The Information alleges that the two brothers, 50 percent owners of Kradin Metal Co., Inc., Canton, Mass., charges that during the years 1996 to 1998 Kradin sold substantial quantities of scrap metal to a Chelsea, Mass., scrap metal firm which paid for the scrap metal by means of checks made payable to fictitious payees. The Kradin brothers are charged with having cashed the checks and then using the proceeds for their own personal purposes rather than depositing the funds into the accounts of Kradin. It is also alleged that they did not report the income on their personal income tax returns for the same time period.
If convicted, the two face up to 3 years' imprisonment, to be followed by 1 year of supervised release, and a $250,000 fine.
The case was investigated by the U.S. Internal Revenue Service, Criminal Investigation. It is being prosecuted by Assistant U.S. Attorney Peter A. Mullin in Sullivan's Economic Crimes Unit.