S.J. man guilty in loan sharking

Posted: June 14, 2013

A 37-year-old South Jersey man pleaded guilty Thursday to loan sharking on behalf of the Philadelphia mob, federal prosecutors said.

Robert Ranieri, of Glendora, admitted that he conspired with Philadelphia mobster Anthony Staino and others to make a usurious loan to an undercover FBI agent and then threatened violence to collect on the loan, according to federal prosecutors.

Ranieri's sentencing hearing is scheduled for Sept. 25 and he faces a maximum 40 years in prison.

- Robert Moran

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