Martin N. Racioppi, 52, of Monmouth Beach, has been charged with the July 20th robbery of the Investors Bank branch in Navesink, according to Acting U.S. Attorney William E. Fitzpatrick.
Racioppi was released from federal prison on March 26, 2014 for his 2007 conviction in the robbery of a Red Bank Sovereign Bank branch, according the the Federal Bureau of Prisons. He was on parole for a previous bank robbery conviction at the time of the Red Bank robbery, according to RedBankGreen.
According to the current complaint, Racioppi entered the Navesink Investors branch last Thursday and demanded money from a teller. He fled with approximately $1,600.
A Monmouth Beach law enforcement source recognized Racioppi’s distinctive neck tattoo when reviewing surveillance footage of the robbery. Racioppi was arrested in Eatontown on Friday the 21st. He faces a possible 20 years in federal prison and a $250,000 fine if convicted.
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.