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Paul Disidoro, a former insurance salesman from Georgetown, was arrested recently in connection with the theft of nearly $500,000 he stole from three clients and charged in a criminal complaint with attempting to evade income taxes.

The complaint alleges that while Disidoro was working for Sun Life Financial during 2007 to 2010, he stole $515,597 from three of his clients and used the money for his personal benefit, including spending more than $100,000 for online horse race betting. Disidoro did not report the stolen funds as income on his federal income tax returns and reported only the commissions he had received from various insurance companies.

Disidoro faces up to five years in prison, three years of supervised release, a fine of $250,000, or twice the gross gain or loss, whichever is greater.