Brian A. Petaccio of Toms River, a contractor whose company was hired by the city of Hoboken to collect coins from city parking meters was sentenced to five years in state prison Friday for stealing $1.1 million in parking revenue.
Petaccio, 52, the owner of United Textile Fabricators, was sentenced by state Superior Court Judge Francis R. Hodgson Jr. in Toms River. Petaccio pleaded guilty on Sept. 30, 2009 to an accusation charging him with second-degree theft by unlawful taking for stealing approximately $1,175,000 in coins from Hoboken parking meters between June 2005 and April 2008.
After an audit in 2007 uncovered parking revenue shortfalls, Petaccio and his company returned approximately $575,000 to the city. However, Petaccio admitted that he diverted an additional $600,000 that was not reported to the city.
On April 2, John P. Corea, 48, former director of the Hoboken Parking Utility, was sentenced to seven years in prison, including three years of parole ineligibility, by Hodgson. Corea pleaded guilty to second-degree official misconduct, admitting that he became aware that Petaccio and United Textile had stolen a large amount of the city’s parking revenues, but did not take any steps to stop the thefts or notify the city.
Corea also admitted that he steered three separate no-bid contracts to United Textile to collect, count and manage the coins from the city’s parking meters, and made false statements to the city council about the qualifications and experience of the company, which is a coin-operated arcade game manufacturer.
Corea and Petaccio were each ordered to pay $300,000 to Hoboken in restitution for the $600,000 in revenue that was stolen by Petaccio and not previously repaid.
Deputy Attorney General Jeffrey J. Manis prosecuted the case. The charges resulted from an investigation by the state Division of Criminal Justice and the State Police. The investigation was conducted by Det. Sgt. Peter Layng and Sgt. Lisa Shea, Manis, Deputy Attorney General Perry Primavera, and Administrative Analyst Kathleen Ratliff.
—TOM HESTER SR., NEWJERSEYNEWSROOM.COM