A former national demolition company senior vice president from Wyckoff admitted Friday that he took $341,052 in payoffs from a scrap metal company in exchange for usiness.
Frank Aiello, 53, pleaded guilty in U.S. District Court in Newark to conspiracy to commit wire fraud.
Aiello worked as a senior vice president at an unnamed demolition and remediation services company with offices in New Jersey and throughout the United States, U.S. Attorney Craig Carpenito said.
He accepted “gifts, payments and other things of value” from two brothers who co-owned Cinelli Iron & Metal Co. (CIMCO), headquartered in Secaucus, “in exchange for actions favorable to their business," Carpenito said.
Co-owner Craig Cinelli of Allendale admitted last year that he participated in a separate, 17-year conspiracy to scam customers out of millions of dollars. Two other officials with the company also took plea deals from the government in the case. Charges were still pending against Cinelli's brother, Joseph, of Montvale.
U.S. District Judge Susan D. Wigenton scheduled Aiello's sentencing for Jan. 15.
Carpenito credited special agents with the U.S. Department of Labor Office of Inspector General, special agents with the U.S. Department of Transportation Office of Inspector General, both in New York, and the FBI’s Newark Field Office.
Handling the case for the government is Senior Litigation Counsel Daniel Shapiro of Carpenito’s Economic Crimes Unit in Newark.
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