Ex-Inside Trader Now Faces Charges in $61 Million Tax-Dodge Case

The founder of a New Jersey plastics company was charged with evading more than $61 million in income taxes, more than a decade after he was sent to federal prison for insider trading.

Alfred Teo, 74, of Boca Raton, Florida, is accused of diverting more than $600 million of Alpha Industries Management’s credit line from 2016 to 2018 to his personal brokerage accounts. Teo paid back some of the money to Alpha, but he recorded $167 million as income for another entity he controlled to avoid reporting personal income, New Jersey U.S. Attorney Craig Carpenito said in a statement.

Teo’s ...