Monmouth County Man Who Owned Trinidad Casino Charged with Evading Payment of More Than $1 Million in Taxes | WPN World People News

A Monmouth County, New Jersey, man is expected to appear in federal court on charges of tax evasion and failing to file federal personal tax returns on income derived from his ownership of a casino in Trinidad, resulting in a $1 million loss to the United States, U.S. Attorney Paul J. Fishman announced.

David Migliore, 50, of Brielle, New Jersey, was charged in a six-count indictment returned August 1, 2013, by a federal grand jury in Newark charging him with three counts of tax evasion and three counts of willfully failing to file personal tax returns relating to tax years 2009, 2010, and 2011. Migliore surrendered this morning to special agents of IRS-Criminal Investigation and is scheduled to make his initial appearance U.S. Magistrate Judge Mark Falk in Newark federal court.

Migliore owned several limited liability corporations in New Jersey, including Brielle Investment LLC; Brielle Investments & Management Co. LLC; and La Soufriere Maritime Inc. Migliore also owned Island Club casino in Trinidad and had authority over foreign bank accounts in Trinidad.

From 2009 to 2011, Migliore earned significant income from Island Club Casino, resulting in taxes due totaling more than $1 million. Migliore allegedly took steps to conceal his income and assets from the IRS, including: using unreported bank accounts in Trinidad to deposit personal income; using U.S. bank accounts in the names of his limited liability corporations and business entities to receive personal income from Island Club casino in Trinidad; using limited liability corporations and business entities to pay for personal expenses in New Jersey and elsewhere; placing personal property in the names of limited liability corporations and business entities; directing income from Island Club Casino in Trinidad to be transferred directly to vendors in the United States to pay for his personal expenses; directing employees of Island Club Casino to send his income from the casino to individuals in New Jersey via Western Union for his benefit; and directing individuals to pick up cash, which was income attributed to him, from Western Union offices in New Jersey.

Each count of tax evasion is punishable by a maximum potential penalty of five years in prison and a $250,000 fine. Each count of failing to file tax returns is punishable by a maximum potential penalty of one year in prison and a $100,000 fine.

Source: U.S. Attorney’s Office