OLD TAPPAN, N.J. -- A former Old Tappan rare coin dealer who stole identities was sentenced to 15 months in federal prison for income tax evasion.
William Dominick, 69, of Collier County, Florida, previously admitted ducking personal income taxes on more than $400,000 in exchange for leniency.
He also agree to file amended returns and make full restitution for years 2010 through 2014.
Dominick owned and operated Westwood Rare Coin out of his then-home in Old Tappan.
Using other people’s identities, he gathered credit cards to purchase bulk quantities of coins from the U.S. Mint in order to corner the market, Acting U.S. Attorney William E. Fitzpatrick said.
"Dominick then sold those coins through his business, retained the proceeds for his personal use, and failed to include the proceeds on the tax return that he signed and filed with the IRS," Fitzpatrick said.
In addition to the prison term, U.S. District Judge Anne E. Thompson sentenced Dominick to three years of supervised release and fined him $10,000.
Fitzpatrick credited special agents of the FBI and of IRS-Criminal Investigation, as well as inspectors of the U.S. Postal Inspection Service, with the investigation.
Handling the case for the government is Assistant U.S. Attorney Shana Chen of Fitzpatrick's Economic Crimes Unit in Newark.
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