Former superintendent in Toms River, N.J., admits taking bribes

News release: The former superintendent for the Toms River (N.J.) Regional School District has admitted taking bribes to influence school district insurance contracts. Michael J. Ritacco, 64, of Seaside Park, N.J., pleaded guilty to mail fraud and conspiracy to defraud the IRS. Prosecutors say he accepted between $1 million and $2 million in bribes in return for Ritacco’s official assistance in obtaining insurance business with the district.