Monmouth County casino owner pleads guilty to evading nearly $1.3 million in income taxes from Trinidad casino

TRENTON – A Monmouth man  admitted yesterday 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 Fishman announced.

David Migliore, 50, of Brielle, pleaded guilty before U.S. District Judge Mary 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.

Pursuant to the plea agreement, Migliore agreed to pay restitution of $1,286,657 to the IRS.