Bergen Rare Coin Dealer Admits To Identity Theft, $400K In Tax Evasion

The owner of a rare coin business pleaded guilty Tuesday to using people's identities to hide $400,000 in income from the government.

William Dominick, 68, of Collier County, Fla., pleaded guilty to tax evasion and identity theft before U.S. District Judge Anne E. Thompson in Trenton federal court, Attorney Paul J. Fishman announced.

Dominick failed to report $400,000 in income he earned in 2013 through his Old Tappan-based business Westwood Rare Coin, Fishman said in a news release.

Dominick used other people's identities to open credit cards and purchase bulk quantity coins from the United States Mint in order to corner the market, Fishman said.

Dominick then sold those coins through the business, kept the proceeds and failed to report them to the IRS, Fishman said.

Dominick faces a possible 20-year prison term and $500,000 fine. He must also file amended tax returns and make full restitution for years 2010 through 2014.

Sentencing is scheduled for May 23.

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