Guilford Couple Sentenced on Gambling, Tax Convictions

Today, David B. Fein, United States Attorney for the District of Connecticut, announced that Dominic J. Acquarulo, Jr., 43, of Guilford, was sentenced on charges for operating an illegal sports bookmaking business and for federal tax offenses. According to the press release, Acquarulo’s then-girlfriend, Annunziata Germana, 32, also of Guilford, assisted in the illegal gambling operation.       

According to court documents and court statements, between 2006 and 2008, Acquarulo operated an illegal sports bookmaking business that involved a number of sub-bookmakers, each of whom had a network of bettors.

He also operated two online betting web sites as part of his operation. Sub-bookmakers were provided with passwords to the sites so that each bettor was able to place bets through an individual account.

“On behalf of Acquarulo, the sub-bookmakers collected losses from the bettors and paid out any winnings,” the press release stated. “The sub-bookmakers would receive a 10% commission on losses they collected from said bettors, and then provided the remaining funds to Acquarulo.”

At least two other individuals were used by Acquarulo to count the funds collected and to provide funds to sub-bookmakers to pay out winners.

During this same time, from 2006-2008, Acquarulo’s then-girlfriend and current wife, Annunziata Germana operated “Shoreline Finance and Marketing Corporation,” a mortgage brokerage company.

Acquarulo employed Germana as a mortgage loan officer at the business, and with his knowledge, Germana used “corporate credit cards and corporate checks to pay for numerous personal expenses, including rent for her apartment, car lease payments, jewelry and clothing.”

“She then classified these payments and purchases, which totaled more than $19,000, as business expenses in the bookkeeping records of the business,” the press release continued. However, Germana failed to file a U.S. Indivudal Income Tax Returns accounting for the payment of her personal expenses with Shoreline Finance funds. Germana received approximately $30,835 and $34,382 in gross income, respectively, in the 2007-2008 year.

Acquarulo also under reported his income generated from his business on his 2007 individual income tax return, which resulted in tax losses of $6,170.

“In addition, Acquarulo’s gross income in 2008 was $178,860, but he failed to file a 2008 tax return by October 15, 2009, as required,” the press release continued. “Acquarulo filed his Form 1040 in May 2010, approximately 10 months after he was interviewed by federal agents and informed of this pending investigation.”

Acqurulo pleaded guilty earlier this year in March to one count of “operating an illegal gambling business, one count of filing a false tax return, and one count of willfully failing to timely file a tax return.” In June of this year, Germana pleaded guilty to two counts of willfull failure to file a tax return.

Today, Acquarulo was sentenced to 22 months of imprisonment, followed by 3 years of supervised release. He was also ordered to pay a $4,000 fine and restitution. 

Germana was sentenced by Judge Arterton to two years of probation and a $2,000 fine and restitution. 

Both have been ordered to pay back taxes and interest of $29,659.29 for Acquarulo and $13,397, for Germana.

The Federal Bureau of Investigation and the Internal Revenue Service – Criminal Investigation, are investigating this matter.  Assistant United States Attorney Anastasia Enos King is prosecuting the case.