A Danvers man was sentenced to two years in federal prison on Thursday, and also ordered to forfeit $452,000 for running an illegal online gambling ring from his home on the North Shore, according to a report in the Salem News and a press release from the Internal Revenue Service.

The sentence for John Giannelli Sr., 66, was handed down Thursday by a federal judge in New Hampshire. He pleaded guilty to money laundering, operating an illegal gambling business and five counts of impeding the administration of the Internal Revenue laws back in September.

A complete copy of the U.S. Attorney's press release announcing the sentence is attached to this story as a PDF.

Prosecutors from the U.S. Attorney's office in New Hampshire said that Giannelli ran an illegal sports betting website for four years from his homes in, at first, Peabody and later Kingston, N.H. that had up 300 customers.

Prosecutors said that their analysis of computer seized from Giannelli’s home in March 2012 showed that in a select 12-week period that the illegal website generated $188,000 in profits.

The forfeiture of $452,000 is based on what prosecutors said was the total amount of money Giannelli laundered through another legitimate business to make it look like the money was nbeing earned legitimately.