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
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
The company was unaware of
Fischers alleged activities, according to court
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.