PITTSBURGH The chief operating officer and part owner of Marion, Ohio-based recycler Sims Bros. Inc. has been accused of not paying nearly $900,000 in taxes on about $2.2 million in unreported income over a five-year period.
Scott A. Fischer, 54, has been charged with five counts of tax evasion for failing to pay a total of $899,781 in federal income taxes, according to documents filed April 18 in U.S. District Court in Ohio.
Between 2006 and 2010, Fischer allegedly made side dealsapparently against company policywith a scrap supplier identified only as "W.K.," according to court documents. He allegedly provided funds to "W.K.," who would use the money to purchase scrap that would then be resold to Sims or other metal recyclers, and Fischer and "W.K." would split the profits.
Fischer made 750 deposits into his personal bank account in increments of $3,000 to avoid detection, and failed to report on his tax returns the approximately $2.2 million he received from "W.K.," the complaint alleges.
The company was unaware of Fischers alleged activities, according to court documents.
Privately owned Sims Bros.not to be confused with the unrelated Sims Metal Management Ltd.said the matter would have no impact on the company. The federal charges against Mr. Fischer are personal to him and had nothing to do with Sims Bros. Inc. or its 150-plus employees, the recycler said.
Fischer could not be reached for comment.