PHILADELPHIA—Jacob Corropolese, Sr., 65, of Norristown, PA, pleaded guilty today to tax charges in connection with his sports bookmaking operation. Corropolese admitted to filing false tax returns when he ran a sports bookmaking operation. Corropolese received more than $500,000 in proceeds from bettors but did not report any income from his bookmaking activities on his federal income tax returns for 2010 and 2011. As a result he substantially underreported his income in each year.

U.S. District Court Judge Jan E. DuBois scheduled a sentencing hearing for DATE. Corropolese faces a maximum possible sentence of six years in prison, one year of supervised release, a $200,000 fine, and restitution to the IRS.

The case was investigated by the Internal Revenue Service Criminal Investigations and the Federal Bureau of Investigation. It is being prosecuted by Assistant United States Attorney Nancy E. Potts.