White Collar Crime News

Toms River Regional school district Superintendent Michael J. Ritacco may be indicted soon October 12, 2010

According to the Asbury Park Press, sources indicate that Toms River Regional school district Superintendent Michael J. Ritacco has been notified that he is the target of a Grand Jury investigation.  Hopefully, this is not news to Ritacco and his legal team.  In the Spring, his car was seized and his house was raided.  That can only occur if a judge has found probable cause that criminal activity occurred and/or evidence of criminal activity was located at his house.  Thus, it was only a matter of time before Ritacco was indicted.  The fact that he has been informed that he is a target, and not a witness or a subject also indicates that there is a 95% that he will be indicted very soon.  If you are labeled as a witness, you have no criminal liability.  If you are labeled as a subject, the Government is on the fence about your status.  If you are a target, they are coming after you.

While the scope of the investigation is unknown, what is known is that is involves Federal Hill Risk Management.  The attorney for the former owner of the company indicated that his client will be indicted in Federal Court next week.  Thus, it would seem likely that everyone associated with the Federal case would be indicted at the same time.  Until that happens, we may not learn much.  However, the fact that he has received a target letter leads me to believe that Ritacco is not cooperating.  While his attorneys may have had meetings with the Government, it seems like a plea deal could not be reached.  While Ritacco could certainly plea out after indictment, the best deal would likely come before indictment.  Thus, if Ritacco does get indicted, there is a good chance that the case could go to trial.

Story is here.