$11.6 Million Concealed from IRS: Scrap Metal Recycler and President Plead Guilty

BURR RIDGE, IL — A Burr Ridge man has pleaded guilty in the ongoing investigation of tax evasion by a scrap metal recycling plant in Burr Ridge. Laurence Baron, president of Acme Refining in Bridgeport, and the company allegedly concealed $11.6 million from the IRS in an effort to avoid taxes, according to a press release.

Acme was raided in by Federal Agents in 2013 after the IRS launched a criminal investigation of the business. Since then, both Acme and Baron have pleaded guilty to impairing and impeding the IRS. In total, $11.6 million cash payments were made to employees between 2009 and 2013. Acme did not report these payments to the IRS, nor did they deduct Medicare payments or FICA taxes during this period.

Baron, 70, of Burr Ridge also entered a guilty plea for filing falsified individual tax returns in 2011 and 2012. As part of the plea agreements, Baron will pay the IRS $1,333,084 and Acme will pay $4,525,243 in restitution to the IRS.

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