Former Hoboken Parking Utility Director John Corea indicted on $600K theft

December 11, 2009 Jersey Journal

John Corea, former director of the Hoboken Parking Utility, was indicted today on charges that he stole $600,000 from Hoboken. He is shown in January demonstrating parking in the re-opened robotic public parking garage on Garden Street in his own Corvette. The former director of the Hoboken Parking Utility has been indicted on charges he conspired to steal more than $600,000 in parking meter revenue.

State Attorney General Anne Milgram announced the indictment against John Corea, 45 of Hoboken, today.

According to the release, Corea allegedly split the revenue with a Tom River contractor, Unite Textile Fabricators LLC, which was hired to collect coins from the meters.

A state grand jury indicted Corea with first-degree charges for conspiracy and money laundering and second-degree charges of official misconduct, theft by unlawful taken and misapplication of government property.

Brian Petaccio, 49 of Toms River and president of Untied Textile Fabricators, pleaded guilty on Sept. 30 to second-degree theft by unlawful taking for stealing more than $1.1 million in coins from Hoboken’s parking meters.

“This is an outrageous abuse of public trust,” Milgram said. “The indictment charges that Corea used his position as director of the Hoboken Parking Utility to conspire with Petaccio in the theft of more than $600,000 in parking meter revenue that should have been used for the benefit of the city and its residents.”

Milgram said Corea allegedly steered three separate no-bid contracts to the company in November 2005.

In 2007, when an audit uncovered parking meter revenue shortfalls, the company returned about $575,000.

When pleading guilty, Petaccio admitted that he conspired with a Hoboken official to divert additional funds, more than $600,000, which was never reported to the city.

Petaccio and the official split the money.

While he did not name the official in court, he identified the person to investigators.