Monmouth Beach, New Jersey, Man Admits Robbing Investors Bank
For Immediate Release
U.S. Attorney's Office, District of New Jersey
TRENTON, N.J. – A Monmouth Beach, New Jersey, man today admitted robbing an Investors Bank branch in Navesink, New Jersey, U.S. Attorney Craig Carpenito announced.
Martin Racioppi, 52, pleaded guilty before U.S. District Court Judge Michael A. Shipp in Trenton federal court to an information charging him with one count of bank robbery.
According to documents filed in this case and statements made in court:
On July 20, 2017, Racioppi entered an Investors Bank in Navesink and approached a bank teller. He told the teller, “Give me all of your money.” When the teller said, “Excuse me?” Racioppi again demanded all the teller’s money and told the teller to “make it quick.” The bank teller handed Racioppi cash, and Racioppi left the bank. The FBI arrested Racioppi in Middletown one day later.
The bank robbery charge carries a maximum potential penalty of 20 years in prison and a fine of either $250,000 or twice gross gain or loss from the offense, whichever is greater. Sentencing is scheduled for July 10, 2018.
U.S. Attorney Carpenito credited special agents of the FBI, Newark Division, Red Bank Resident Agency, Jersey Shore Gang and Criminal Enterprise Task Force (which includes representatives from Bradley Beach Police Department, Brick Police Department, Marlboro Police Department, Monmouth County Sheriff’s Office, and Toms River Police Department), under the direction of Acting Special Agent in Charge Bradley W. Cohen; the Middletown Township Police Department, under the direction of Chief Craig Weber; the Monmouth County Prosecutor’s Office, under the direction of Monmouth County Prosecutor Christopher J. Gramiccioni; the Monmouth Beach Police Department, under the direction of Chief Thomas C. Walsh; the Atlantic Highlands Police Department, under the direction of Chief Jerry Vasto; and the Eatontown Police Department, under the direction of Chief Michael D. Goldfarb with the investigation leading to today’s guilty plea.
The government is represented by Assistant U.S. Attorney Fabiana Pierre-Louis, Attorney-in-Charge of the U.S. Attorney’s Office Trenton Branch.
Updated March 20, 2018
Press Release Number: 18-108