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School District Hasn't Received Any Ritacco Restitution Money

Disgraced former superintendent's Seaside Park home is now under contract

Michael J. Ritacco (Patch File Photo)
Michael J. Ritacco (Patch File Photo)
The Toms River Regional school district has not yet received any restitution funding from former Superintendent Michael J. Ritacco, officials confirmed this week.

Ritacco – the disgraced former schools chief who admitted to stealing as much as $2.5 million through bribes passed between himself, insurance brokers and intermediaries – is now serving an 11 year term in federal prison.

The school district is trying to recoup the money Ritacco took and garnish his pension. As part of his sentence, Ritacco must pay a $1 million fine plus restitution. In Dec. 2012, records show, the federal government filed a lien against Ritacco in the amount of $4,437,187.91.  The lien was recorded with the Ocean County Clerk’s office in Feb. 2013.

But so far, the school district has not received any money, said school district Stephan Leone.

"We are in very hot pursuit of that," Leone said. "We've had meetings, and we're making progress, but we don't have the money yet."

Federal garnishments on Ritacco's pension could make up for some of the restitution, Leone said. The garnishments are in place, he explained, but there are "legal challenges" to them that are still being worked out.

Seaside Park Home No Longer For Sale

Ritacco's former home in Seaside Park had been listed for sale earlier this year for $1.95 million. A real estate agent for the realty which had the listing said on Wednesday that the house was now under contract.

The sale of the home, should it go through, will be used for restitution payments, officials have said.

"Our lien for restitution is recorded and all equity from the sale of the home will go towards payment of restitution," Matthew Reilly, a spokesman for the U.S. Attorney’s office, told Patch previously.
proud August 25, 2013 at 11:14 AM
@Bob, why would you pay mind to a comment from any attorney? Even worse, why would to take the baton from Failed_in_the_Ward. To say credibility is lacking would be an understatement. Here is a classic example from the Star Ledger when Ritacco was charged: "[TOMS RIVER — Former Toms River schools superintendent Michael Ritacco pleaded not guilty to bribery and fraud charges Wednesday, and his lawyer dismissed the case against him as "preposterous." The lawyer, Jerome Ballarotto, described Ritacco as a "man of integrity," serving Toms River for decades and leading a successful construction company with "never a hint of criminal conduct."]"
grace August 25, 2013 at 11:14 AM
omg proud that was some quote! lol how many people have driven by a ritacco construction site and noticed property of toms river schools written on sheetrock etc? alot and yet no one said anything
"Bob" Armstrong August 25, 2013 at 11:56 AM
Nice guys finish last....and I want to win....Ritacco was in it for himself, and definitely not the kids. All of my Federal corruption cases involved targets with great jobs, salaries, pensions and community respect...always a shocker. US Attorney Fishman's quote was an important insight to "machine" politics and corruption in OC. "Bob" Armstrong for OC Sheriff in 2013
proud August 25, 2013 at 12:30 PM
If there is such a quote.


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