A former senior vice president of a national demolition company has admitted accepting more than $300,000 in bribes from officials at a New Jersey-based scrap metal company to steer business to that firm.
Frank Aiello pleaded guilty Friday to conspiracy to commit wire fraud. The 53-year-old Wyckoff man now faces up to 20 years in prison when he’s sentenced Jan. 19.
Federal prosecutors say Aiello took $341,052 from two top officials with Secaucus-based Cinelli Iron & Metal Co., which operates three scrap metal recycling facilities in New Jersey. They say Aiello used his position to enrich himself by soliciting and accepting gifts, payments and other things from the firm from 2013 through 2016.
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