A Toms River contractor was sentenced to five years in state prison today for stealing over $1 million in coins from Hoboken's parking meters, according to the state attorney general's office.
Brian A. Petaccio, 52, Toms River, the owner of United Textile Fabricators LLC, pleaded guilty on Sept. 30, 2009 to an accusation charging him with second-degree theft by unlawful taking for stealing approximately $1,175,000 in coins from Hoboken parking meters between June 2005 and April 2008, according to a release from the state attorney general's office.
Petaccio and his company returned $575,000 to the city after an audit in 2007 uncovered parking revenue shortfalls, the release says. After the guilty plea, however, Petaccio admitted to diverting an additional $600,000 that was not reported to the city.
On April 2, John P. Corea, 48, a former director of the Hoboken Parking Utility, was sentenced to seven years in state prison, including three years of parole ineligibility for his role in the theft. -Stephen LaMarca