Former Toms River Regional Schools superintendent Michael Ritacco pleaded guilty to public corruption and tax evasion charges Thursday.
Federal prosecutors claimed Ritacco accepted between $1 million and $2 million in cash and gifts from the district’s insurance broker. The broker on Monday pleaded guilty to participating in a scheme to bribe the superintendent.
Ritacco’s guilty plea in federal court in Newark, N.J., came just days before he was scheduled to stand trial.
IRS special agent Rob Glantz tells the Asbury Park Press the 64-year-old could face up to 14 years in prison when sentenced July 12.
Ritacco also agreed to forfeit his 2010 Mercedes and more than $8,000 in cash that was seized at his home when it was raided in April 2010.