Casino Owner from Brielle Charged with Tax Evasion
A Brielle 50-year-old appears in federal court in Newark today to answer charges of tax evasion and avoiding taxes on millions of dollars from a casino he owns in Trinidad.
David Migliore risks up to five years in prison and $250,000 in fines for each of three counts of tax evasion, and up to a year's confinement and $100,000 fines for each of three counts of willingly failing to file personal tax returns.
According to information from New Jersey U.S. Attorney Paul Fishman, David Migliore skipped his federal returns in 2009, 2010 and 2011. Prosecutors estimate that he owes the government more than $1,000,000.
Investigators say Migliore owned the Island Club Casino in Trinidad and had authority over foreign bank accounts there, and also owned several limited liability corporations in New Jersey - Brielle Investment,Brielle Investments & Management Company, and La Soufriere Maritime, Inc.
Their probe determined that Migliore placed personal income in unreported Trinidad bank accounts; funneled personal income thorugh U.S. accounts attributed to his LLCs; used the companies to shelter personal property and pay personal expenses; directed casino-based income for transfer to vendors to pay personal expenses; and ordered casino workers to wire his share of revenues to people in New Jersey via Western Union.