Man Admits To Robbing Investors Bank In Navesink

MONMOUTH BEACH, NJ — A man who gave his home address as Monmouth Beach, NJ admitted on Tuesday to robbing the Investors Bank branch in Navesink, U.S. Attorney Craig Carpenito announced.

Martin Racioppi, 52, pleaded guilty before U.S. District Court Judge Michael A. Shipp in Trenton federal court Tuesday to one count of bank robbery. According to documents filed in this case and statements made in court:

On July 20, 2017, Racioppi entered the Investors Bank in Navesink and approached a bank teller. He told the teller, “Give me all of your money.” When the teller said, “Excuse me?” Racioppi again demanded all the teller’s money and told the teller to “make it quick.” The bank teller handed Racioppi cash, and Racioppi left the bank. The FBI arrested Racioppi in Middletown one day later.

The bank robbery charge carries a maximum potential penalty of 20 years in prison and a fine of either $250,000 or twice the gross gain or loss from the offense, whichever is greater. Sentencing is scheduled for July 10, 2018.

Exterior of the Investors Bank in Navesink via Google Earth.