A Monmouth Beach man today admitted robbing an Investors Bank branch in Navesink, New Jersey, U.S. Attorney Craig Carpenito announced.
Officials said 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.