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| S.I. business owner admits to RIPPING OFF MTA by supplying low-grade oil for city buses (297269) | |||
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S.I. business owner admits to RIPPING OFF MTA by supplying low-grade oil for city buses |
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Posted by Gold_12th on Fri Aug 29 22:25:30 2014  A businessman who ripped off the MTA for hundreds of thousands of dollars will have to spend his weekends in jail — but can go home to his Colts Neck, N.J., mansion the rest of the week. Joseph Ioia, 61, also will cut a check to cover $863,618.25 as part of a plea deal formalized in court with Manhattan prosecutors Thursday. As the owner New York Commercial Lubricants on Arlington Ave., Staten Island, Ioia won a contract to provide high-quality transmission fluid for Metropolitan Transportation Authority buses.But he delivered a lower-grade lubricant in 2010 and 2011, he admitted in court. Ioia had faced five to 15 years in prison on a second-degree grand larceny indictment. He copped a plea in Manhattan Supreme Court, however, to a lesser felony. He will be sentenced in December to three months worth of weekends in jail, and five years’ probation, under the agreement, authorities said. The rest of the week, Ioia can go home to his eight-acre horse farm worth $2.3 million. The Staten Island business is just one of several petrochemical, fuel recycling and transportation companies in Ioia’s portfolio. The entities include Full Circle Manufacturing in Elizabeth, N.J., with estimated revenues of more than $4.3 million in 2012. Until last week when he resigned, Ioia was a director of GlyEco, Inc., a chemical company based in Phoenix, Arizona. NYC Transit staffers brought their suspicions about the bus contract to MTA Inspector General Barry Kluger’s office, authorities said. Investigator Richard Regan worked the case with Manhattan District Attorney Cyrus Vance’s prosecutors for more than a year. “These joint efforts reinforce a powerful message: We hold contractors working on MTA and other governmental projects to a higher standard, and will will exact a very heavy price from those who cheat the public,” Kluger said in a statement. Ioia declined to comment outside the courtroom. “Mr. Ioia accepted his responsibility,” attorney Austin Campriello said. “He regrets his conduct and is happy to put this behind him.” http://www.nydailynews.com/new-york/nyc-crime/business-owner-admits-ripping-mta-supplying-low-grade-oil-city-buses-article-1.1920085 |
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