A Monmouth Beach man will appear in federal court today to face allegations that he robbed an Investors Bank in Navesink, New Jersey, on July 20, 2017, Acting U.S. Attorney William E. Fitzpatrick announced.
Martin Racioppi, 52, is charged by complaint with one count of bank robbery. He is expected to appear this afternoon before U.S. Magistrate Judge Lois H. Goodman in Trenton federal court.
According to the complaint, Racioppi entered an Investors Bank on July 20, 2017, verbally demanded money from a teller, and fled after the teller gave him cash. Racioppi was arrested a day later in Eatontown on July 21, 2017.
The bank robbery charge carries a maximum potential penalty of 20 years in prison and a $250,000 fine, or twice the gross gain or loss from the offense.
Racioppi has two prior bank robbery convictions, including a federal conviction in 2007.