Crime & Safety

Ritacco's Seaside Park Home Up for Sale

Process of collecting $4.4 million in fines and restitution is now underway, U.S. Attorney's office says

The three-floor, five bedroom house on an oceanside block in Seaside Park includes nine-foot tall ceilings, a gourmet kitchen, a 12-seat marble top bar with leather stools and a wrap-around deck.

There’s also an outdoor summer kitchen in the backyard, next to the heated in-ground pool and hot tub.

For the asking price of $1.95 million, you can own all that – and piece of Ocean County history.

The house at 16 11th Avenue, steps from the beach, used to belong to Toms River Regional schools superintendent Michael J. Ritacco, who is now living at the United States Penitentiary in Lewisburg, Pa.

Ritacco, who led the regional school district for 18 years, was sentenced to just over 11 years in prison in Sept. 2012 after pleading guilty in April 2012 to corruption charges. As much as $2.5 million in bribes were passed between Ritacco, insurance brokers and intermediaries during his time as superintendent, prosecutors said.

After Ritacco went to prison the day of his sentencing, the federal government began the process of collecting a $1 million fine against Ritacco plus restitution for the money he took. In Dec. 2012, records show, the federal government filed a lien against the disgraced former schools chief in the amount of $4,437,187.91.  The lien was recorded with the Ocean County Clerk’s office in Feb. 2013.

Matthew Reilly, a spokesman for the U.S. Attorney’s office, which prosecuted Ritacco, said the government has maintained “close contact” with the local real estate office in charge of the sale.

“Our lien for restitution is recorded and all equity from the sale of the home will go towards payment of restitution,” said Reilly.

Federal law allows for the sale of a home to cover fines and restitution payments, Reilly said. The U.S. Attorney’s office is also in the process of garnishing all of Ritacco’s bank and retirement accounts and a hearing for that matter will be scheduled soon, he added.

Ritacco’s ex-wife is also seeking a portion of the restitution amount, said Reilly.

The realtor with Childer’s Sotheby’s International Realty who is in charge of the sale did not wish to comment for this story. Efforts to reach Ritacco were also unsuccessful.

According to records maintained by Zillow.com, a real estate tracking website, the asking price for the house was originally $2,225,000 but was lowered to $1,950,000 in May. Property taxes on the house, according to the website, were $15,250 in 2012.


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