New Jersey official, insurance broker charged with corruption

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New Jersey official, insurance broker charged with corruption

This is nothing new in today’s world. You meet a client, possibly get the account or have to “bribe” him into doing business with you. There are even times that clients ask me straight up, “how can I benefit from this.” The answer is simple. Be unethical, law breaking, and unconcious and you have no problem in todays insurance world. Last year we were going to write an account, but the clients current broker flies him to Hawaii on an annual trip. That is 100% WRONG~!~

Michael J. Ritacco, the superintendent of the fourth-largest school district in New Jersey, was charged Thursday with taking more than $1 million in kickbacks from an insurance broker who was indicted with him.
Mr. Ritacco, who runs the Toms River Regional School District, was indicted with Francis X. Gartland on wire fraud, mail fraud and other corruption counts in federal court in Newark, N.J. Mr. Gartland runs Federal Hill Risk Management L.L.C. and other companies in Towson, Md.

Prosecutors alleged that Mr. Ritacco took between $1 million and $2 million in illegal payments from 2002 to this year. Mr. Ritacco appeared before a federal magistrate judge in Newark, who released him on a $1 million bond. Mr. Gartland is expected to surrender to authorities tomorrow, said Rebekah Carmichael, a spokeswoman for U.S. Attorney Paul Fishman.

Both men face as many as 20 years in prison on the most serious charge.

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