Ex Bergen Coin Dealer Gets 15 Months For Tax Evasion

BERGEN COUNTY, NJ — A former Old Tappan resident was sentenced to 15 months in federal prison for evading personal income taxes on more than $400,000 in 2013, acting U.S. Attorney William E. Fitzpatrick announced.

William Dominick, 69, of Collier County, Florida previously pleaded guilty before U.S. District Judge Anne E. Thompson to tax evasion and identity theft, Fitzpatrick said.

Dominick owned and ran Westwood Rare Coin out of his Old Tappan home. He did not report $400,000 in income earned by the business by using other people's identities to open credit cards to purchase bulk quantities of coins from the U.S. Mint in order to corner the market.

Dominick then sold the coins through his business, kept the profit and did not report it to the IRS, Fitzpatrick said.

Dominick will file amended tax returns and make full restitution for 2010 through 2014. Judge Thompson also sentenced him to three years of supervised release and fined him $10,000.

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