A Danvers based resident has been sentenced for 2 years for operating an illegal online gambling site from his house, locatedNorth Shore in New Hampshire, USA.
The 66 year old accused, John Giannelli Sr., confessed his personal operation on money laundering, unlicensed gambling site, non-declared tax revenues and impeding the administration of the Internal Revenue Laws in September 2012.
The gambling site, which has been running for over 4 years, was focused on sports betting for 300 punters, generating revenues for as much as $188,000 in a 12 week work period. The US’ Attorney’s office and the IRS have confiscated US$ 452,000 for operating the site.
The revenues from the illegal gambling site were laundered through one of Giannelli’s legitimate businesses. Another way for laundering the money was through an arrangement with one of Giannelli’s former employers. He would simply give the cash to him and later receive a paycheck as if he still worked there.