As a follow up to the story first broke by NJ.com's Hoboken Now I went to the NJ State Attorney General's page and found the press release and full indictment.
Reader FAP summarized it best with his post in another comment thread:
To summarize the charges are:
Count One: Conspiracy - First Degree
Count Two: Official Misconduct - Second Degree
Count Three: Theft by Unlawful Taking or Disposition - Second Degree
Count Four: Misapplication of Property and Property of Government - Second Degree
Count Five: Financial Facilitation of Criminal Activity - First Degree
To put this in perspective from the AG's press release:
"The first-degree money laundering charge carries a maximum sentence of 20 years in state prison and a fine of up to $500,000. Corea could also face a potential anti-money laundering penalty of up to three times the value of the property involved. Second-degree crimes carry a maximum sentence of 10 years in state prison and a $150,000 fine.
In addition, the official misconduct charge carries a mandatory minimum sentence of five years in prison without parole and a lifetime ban on any future public employment. Therefore, if Corea is convicted of both the first-degree money laundering charge and the second-degree official misconduct charge, he faces a mandatory minimum sentence of 15 years in prison without parole".
With the minimum sentence likely at 15 years without parole for conviction on two of the five charges or in the worse case scenario conviction of all five counts 70 years in prison and well over $1 million in fines.
Put this way, one of his former pals Peter Cammarano is in much less hot water.
This link is also flying around the blogs on a previous case where John Corea filed an anti-defamation case. This seems pretty comical now (except for John Corea of course):
Fighting words - Parking Utility head sues for defamation - Hoboken Reporter
(Thanks Tony S. for the link)
Below s a copy of the NJ AG's press release in full here:
For reference purposes the link to the press release from the NJ AG's office is below:
http://www.nj.gov/oag/newsreleases09/pr20091211b.html
Here is the 15 page Indictment of John Corea (former Diretcor of Hoboken's Parking Utility) embedded for your convienience to read within this site below:
Here is the link to the indictment on the NJ State Attourney General's Office for reference:
http://www.nj.gov/oag/newsreleases09/pr20091211b-Corea-Indictment.pdf ◦
