The couple pleaded guilty to concealing at least $127 million in cash transactions at its precious metals businesses.
William Mark Michaels of Michaels Jewelers Dies at 71
Michaels is remembered as a loving husband, father, grandfather and friend.

He was 71.
Michaels was a longtime member of the jewelry industry, getting his start as a buyer at the family business, later working his way up to running the Connecticut-based chain.
The company has 10 locations across the state.
“He loved going to JCK and other industry shows and truly dedicated his life to Michaels Jewelers,” said his daughter, Lindsay Michaels-Gorski.
The Michaels family owned and operated Michaels Jewelers from 1885 until 2019, when they sold it to Camile Hannoush of Hannoush Jewelers.
After the sale, Michaels stayed on as a consultant. He switched gears to focus on the family’s secondary business as a franchise owner of 11 Pandora stores.
He renamed the company The Michaels Group, teaming up with his daughters Lindsay, the vice president of marketing and sales, and Brittany, the chief operating officer.
“It was really wonderful to have worked alongside my dad for nearly 10 years,” said Michaels-Gorski.
When he wasn’t working in the family business, Michaels enjoyed music, golf, spending time with his friends, and boating in Maine.
He was remembered in his online obituary as a loving husband, father, grandfather and friend.
He is survived by his wife, Rose; daughters Brittany and Lindsay; sons-in-law, Dan and Dmitriy; granddaughter Kamila Rose; and brother Irving (Mickey).
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