David B. Fein, United States Attorney for the District of Connecticut, announced Friday that Michael P. Weinstein, 70, of West Hartford, was sentenced Thursday by United States District Judge Janet C. Hall in New Haven to two years of probation, the first six months of which Weinstein must serve in home confinement, for filing false tax returns.
Weinstein also was ordered to pay a fine of $100,000 and to forfeit more than $143,000.
According to court documents and statements made in court, Weinstein lawfully engaged in gambling in Connecticut and elsewhere. In 2009, Weinstein had approximate gambling winnings of $448,400 and gambling losses of $268,990, resulting in net winnings of approximately $179,410. In April 2010, Weinstein signed and filed his 2009 U.S. Individual Income Tax Return, Form 1040, which under reported his income. Consequently, he failed to pay an additional $50,235 in federal taxes that were owed for 2009.
In 2010, Weinstein had approximate gambling winnings of $475,800 and gambling losses of $475,800, resulting in net zero gambling winnings. On his 2010 tax return, Weinstein failed to report his gambling winnings or losses, which affected the Alternative Minimum Tax on his return, and which resulted in his not paying $1,405 in federal taxes.
On October 3, 2012, Weinstein waived his right to indictment and pleaded guilty to one count of filing a false federal income tax return.
As part of the resolution of this case, WEINSTEIN has paid more than $97,000 in back taxes, interest and penalties for the 2009 and 2010 tax years.
Weinstein also has forfeited $143,562.46, which the IRS seized in November 2011 from two of Weinstein’s bank accounts pursuant to a court-authorized seizure warrant.
This matter was investigated by the Internal Revenue Service – Criminal Investigation with the assistance of the Stamford Police Department. The case was prosecuted by Assistant United States Attorney Peter S. Jongbloed.
Submitted by U.S. Department of Justice