Monmouth County Casino Owner Pleads Guilty to Evading Nearly $1.3 Million in Income Taxes from Trinidad Casino
|U.S. Attorney’s Office December 13, 2013|
TRENTON, NJ—A Monmouth County, New Jersey man admitted today to evading taxes on income from his ownership of a casino in Trinidad, resulting in an approximately $1.3 million loss to the United States, U.S. Attorney Paul J. Fishman announced.
David Migliore, 50, of Brielle, New Jersey, pleaded guilty before U.S. District Judge Mary L. Cooper in Trenton federal court to one count of an indictment charging him with evading taxes with respect to his 2011 personal tax return.
According to the documents filed in this case and statements made in court:
Migliore owns several businesses in New Jersey, including Brielle Investment LLC, Brielle Investments & Management Co. LLC, and La Soufriere Maritime Inc., as well as Island Club Casino in Trinidad.
From 2009 to 2011, Migliore earned millions of dollars from Island Club Casino, resulting in taxes due of $1,286,657. During that time, Migliore took steps to conceal his income and assets from the IRS. At his guilty plea proceeding, Migliore admitted to using unreported bank accounts in Trinidad to deposit personal income; using U.S. bank accounts in the names of his New Jersey business entities to receive income from Island Club Casino; and using those business entities to pay for personal expenses.
Migliore also admitted to transferring income from Island Club Casino directly to vendors in the U.S. for personal expenses and directing Island Club Casino employees to send his income through Western Union to individuals in New Jersey who collected the cash on his behalf.
The tax evasion count to which Migliore pleaded guilty carries a maximum potential penalty of five years in prison and a $250,000 fine, or twice the gain or loss arising out of the offense together with the costs of prosecution. Sentencing is scheduled for March 20, 2014.
Pursuant to the plea agreement, Migliore agreed to pay restitution of $1,286,657 to the IRS.
U.S. Attorney Fishman credited special agents of IRS-Criminal Investigation, under the direction of Special Agent in Charge Shantelle P. Kitchen; special agents of the FBI, under the direction of Special Agent in Charge Aaron T. Ford in Newark; special agents of U.S. Immigration and Customs Enforcement’s Homeland Security Investigations, under the direction of Special Agent in Charge Andrew M. McLees in Newark; law enforcement officers from the Monmouth County Prosecutor’s Office, under the direction of Acting Monmouth County Prosecutor Christopher J. Gramiccioni; police officers from Wall Township Police Department, under the direction of Chief Robert Brice; and international assistance from the Financial Intelligence Unit for Trinidad & Tobago, with the investigation.
The government is represented by Assistant U.S. Attorney Rahul Agarwal of the U.S. Attorney’s Office Special Prosecutions Division in Newark.