CONCORD, N.H. (AP) — A Danvers man has been sentenced in New Hampshire to two years in prison after pleading guilty to money laundering, operating an illegal gambling business and impeding the administration of the Internal Revenue laws.
Federal prosecutors say 66-year-old John Giannelli, Sr. operated a computer-based sports betting business while living in Peabody and then Kingston, N.H. that generated about $188,000 in profits in three months.
Giannelli also was charged in a money laundering scheme in which he was listed as an employee of a former sports betting customer’s business that he provided cash to generated by the gambling business and in return received paychecks. Prosecutors say Giannelli laundered about $452,000 between 2003 and 2007 and used false W-2 forms to support tax returns filed with the IRS.
