Feds: Trinidad casino owner stiffed US on taxesAP , Associated Press
Aug. 12, 2013 6:07 PM ET
NEWARK, N.J. (AP) — A New Jersey man who owned a casino in Trinidad hid nearly $4 million in earnings and had employees wire money to New Jersey so he could avoid paying taxes, authorities said in a six-count indictment unsealed Monday.
David Migliore appeared in U.S. District Court in Newark wearing shackles over a gray suit and open-collar white shirt. He was released on $1 million bond secured by two properties and ordered to submit to electronic monitoring.
According to the federal indictment, Migliore failed to files taxes in 2009, 2010 and 2011 on about $3.9 million earned from the Island Club Casino. He allegedly hid the money in bank accounts in Trinidad and corporate accounts in the U.S. and had casino employees send money through Western Union to New Jersey for confederates to pick up.
The 50-year-old Brielle resident faces three counts each of tax evasion and failing to file personal income taxes. He didn't enter a plea and has another court appearance scheduled for next week.
Each tax evasion count is punishable by a maximum sentence of five years upon conviction; the other three counts carry a one-year maximum sentence.
Migliore didn't enter a plea during the brief proceeding. His attorney, Robert Weir, said Migliore returned from vacation to turn himself in Monday. Weir said Migliore owned the Trinidad casino for about 10 years until recently but spent most of his time in New Jersey and hadn't been in Trinidad in years.
Weir also said Migliore was scheduled to be served with an arrest warrant Tuesday for a drug possession charge in Wall Township.