Roseland Man Pleads Guilty to Loansharkin

NEWARK – A Roseland man pleaded guilty today to federal loansharking charges, U.S. Attorney Christopher J. Christie announced.

Nicholas Mitarotonda, 68, pleaded guilty to a one-count Information charging him with making an extortionate extension of credit to someone identified in the Information as J.B., according to Assistant U.S. Attorney Ronald D. Wigler.

Mitarotonda faces a statutory maximum penalty of 20 years in federal prison, a $250,000 fine, an order of restitution and costs of prosecution. U.S. District Judge Joseph A. Greenaway, Jr. scheduled sentencing for Oct. 16.

Mitarotonda was arrested on June 1, by Special Agents of the F.B.I. and charged in a one-count criminal Complaint, which today’s Information supersedes. The federal Complaint alleged that on or about April 25, 2005, Mitarotonda provided J.B. with a $5,000 extortionate extension of credit.

The $5,000 was to be paid back in 10 weeks at 2 percent interest per week, or 104 percent interest per year. J.B.’s required weekly payment was $600 ($500 principle and $100 interest). The Complaint also stated that on or about May 2, 2005 and on or about May 9, 2005, J.B. paid defendant Nicholas Mitarotonda $600 toward this $5,000 extortionate extension of credit.

Today, Mitarotonda admitted making the loan under those terms and that there was an understanding between himself and J.B. that if J.B. failed to pay back this loan, violence or other criminal means would be used to force repayment.

Since Mitarotonda’s arrest, he had been under 24-hour house arrest with electronic monitoring, which was ordered by U.S. Magistrate Judge Susan D. Wigenton after a June 1 initial appearance in federal court.

Under an Information a defendant waives the right to have his case presented to a federal grand jury and, instead, pleads guilty to charges presented by the government.

Under U.S. Sentencing Guidelines, Judge Greenaway will determine the actual sentence based upon a complicated formula that takes into account the severity and characteristics of the offense and criminal history, if any, Christie said.

Christie credited Special Agents of the FBI, under the direction of Special Agent in Charge Leslie G. Wiser, Jr., with developing the case against Mitarotonda.

The government is represented by Assistant U.S. Attorney Wigler, of the U.S. Attorney's Strike Force Unit in Newark, which prosecuted organized crime cases.

Defense Counsel: Anthony Pope, Esq., Newark