Last updated on March 3, 2026
The Frank Sherman Company was a scrap metal dealer based in Youngstown, Ohio.
The Frank Sherman Company was a scrap metal dealer based in Youngstown, Ohio.
The company closed in 2001 after authorities uncovered fraudulent transactions involving Daniel Swindell of Valley Forge Inc. of Salem. 1
Swindell, a part-owner of Valley Forge, entered into an arrangement to sell scrap metal generated by the company to Frank Sherman in exchange for cash payments that were not reported as income. 1 To conceal the transactions, Frank Sherman prepared false invoices that omitted Swindell’s name and any reference to Valley Forge. Over a six-year period, the scheme resulted in $178,218 in unreported income.
Jacob Klein and Kenneth Kreco, president and vice president of the Frank Sherman Company, were charged with conspiracy to defraud the United States government. 1 Each received six months of home confinement and two years’ probation. Klein was fined $15,000, and Kreco was fined $10,000.
Sources
- “CLEVELAND Tax cheats to pay penalty.” Vindicator [Youngstown] 19 Oct. 2001.
Hello Wesley, we are recyclers of mill products. In the past we have purchased “Legacy” materials or materials that are left behind when a facility or yard closes. If you happen to come across any of these types of finds maybe you would interested in contacting us?
What are you interested in? I do industrial demolition
So. I am Frank Sherman. I happened to stumble on your article today. I am setting up a web site to sell art and was checking Google to see if it had been listed. It was and underneath was your article and pictures. The Frank Sherman co. was my fathers ( originally my grandfather’s) business. It was interesting to see what happened to the place that I played at when I was a kid. I’m pushing 60 now. My father, Seymour and his brother Joe ran the business together until the early 70’s. My dad and joe had a falling out and parted ways. Joe bought my father’s share and my folks moved to Florida. Jackie Klein, who is mentioned in your report was joe’s son-in-law. I often wondered what became of the yard ,as we called it. Thanks for the update. Frank
Hello Frank, You might find it interesting that I just explored this site last Sunday. I have some great pictures of the inside and the yard as you call it. You can email me, or if you are on Facebook, you can friend me and see the pictures through the group I have. It is called, Youngstown Explorers.
Thanks,
Wesley