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Monmouth Beach Man Charged With Robbing Local Bank

The following is a press release from the United States Attorney's Office District of New Jersey:

A Monmouth Beach, New Jersey, 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, New Jersey, 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.

Acting U.S. Attorney Fitzpatrick credited special agents of the FBI, Newark Division, Red Bank Resident Agency, Jersey Shore Gang and Criminal Enterprise Task Force (to include 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 Special Agent in Charge Timothy Gallagher; 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 Racioppi's arrest.

The government is represented by Assistant U.S. Attorney Fabiana Pierre-Louis, Attorney-in-Charge of the U.S. Attorney's Office Trenton Branch.

The charge and allegations contained in the complaint are merely accusations, and Racioppi is considered innocent unless and until proven guilty.

Defense counsel: Brian P. Reilly Esq., Assistant Federal Public Defender, Trenton


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