John D. Kane, brother of former Limerick supervisor David was sentenced to a year’s jail after he admitted to tax evasion and bank fraud. His brother David was also indicted in connection with the case. In sentencing, US District Court Judge Eduardo C. Robreno fned Kane $10,000 and ordered him to pay $94,821 in restitution to the IRS.
In the indictment, authorities allege that John helped his brother David obtain loans from Harleysville National Bank, Bank of America and Chase Home Finance. In 2001, David allegedly purchased his primary residence on Bragg Road in Schwenksville. But he was not qualifed to obtain a mortgage on the property so he got his brother John to make a false claim as the purchaser and owner of the property. This was done to prevent the IRS from seizing the property to pay off past unpaid taxes. As at July 2006, David had not paid more than $600,000 in taxes, interests and penalties. What’s more he had not submitted tax returns since 1998.
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