Ocean County Prosecutor Bradley D. Billhimer announced that Peter Rinaldi, 57, of Little Egg Harbor, New Jersey, pleaded guilty on February 11, 2019 to stealing more than $247,000 from eight homeowners who contracted with him to perform repairs on their properties following Superstorm Sandy. Rinaldi admitted to stealing the monies during a guilty plea to second-degree theft by failing to make lawful disposition of property received in violation of N.J.S.A. 2C:20-9 before the Honorable Guy P. Ryan, J.S.C. Under the plea agreement, the State will recommend that Rinaldi be sentenced to five years in New Jersey State Prison. He will also be ordered to pay full restitution in the amount of $247,224.63.
Rinaldi’s guilty plea is the result of an investigation conducted by the Ocean County Prosecutor’s Office Economic Crimes Unit. The investigation revealed that Rinaldi was an owner of Donovan Mark Custom Builders, LLC and Michael Anthony Custom Builders, LLC. Between July 2014 and August 2016, Rinaldi entered into agreements to repair the homes of eight homeowners in Little Egg Harbor, Toms River, Ship Bottom, and Point Pleasant. As a result, Rinaldi received payments exceeding $247,000 that were paid to him for the purpose of performing those repairs. Instead of utilizing those funds to make the necessary repairs, Rinaldi converted the money for his own personal use. As a result, the homeowners were left with their projects unfinished.
Rinaldi had previously pleaded guilty to a charge of third-degree theft by failing to make lawful disposition of monies received relative to a homeowner he victimized in Brick Township. The State will recommend that he be sentenced to three years in New Jersey State Prison and that he be ordered to pay full restitution in the amount of $34,475 as to that matter.
Sentencing on both matters is scheduled for March 29, 2019 before Honorable Guy P. Ryan, J.S.C.
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