A Connecticut businessman and professional poker player was sentenced to 14 months in prison for tax evasion.
Guy Smith, 63, of Shelton, Connecticut, owns a business that specializes in commercial interior construction. He has also participated in poker tournaments at casinos in Connecticut and other locations around the U.S. and the Bahamas. Smith withdrew funds from both his business and personal bank accounts for his gambling business.
Smith did not report approximately $1.1 million in income he received from his business and paid no income taxes on more than $1 million in gambling winnings. Smith failed to pay $821,415 in federal income taxes.