A Brielle man who owns a casino in Trinidad pleaded guilty in federal court Friday to charges that he evaded paying $1.3 million in taxes, authorities said.
David Migliore, 50, pleaded guilty before U.S. District Court Judge Mary L. Cooper, sitting in Trenton, to a single-count indictment charging him with evading taxes on his 2011 tax return stemming from the Island Club Casino, according to a release from the U.S. Attorney’s office.
Migliore, who was arrested in January in Wall on heroin, cocaine and other drugs charges, under a plea agreement will pay restitution of $1,286,657 to the IRS, the release says.
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The tax evasion count carries a maximum penalty of five years in prison and a $250,000 fine. Sentencing is scheduled for March 20, according to the release.
Migliore admitted to using unreported bank accounts in Trinidad to deposit personal income; using U.S. bank accounts in the names of his other New Jersey business entities to receive income from Island Club Casino and using those business entities to pay for personal expenses, the release says.
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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, according to the release.
Migliore owns several businesses in New Jersey, including Brielle Investment LLC, Brielle Investments & Management Co. LLC and La Soufriere Maritime Inc.
From 2009 to 2011, Migliore earned millions of dollars from Island Club Casino, resulting in $1,286,657 owed in U.S. taxes, the release says.
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