Contractor accused of stealing $270,000 from customers arrested

OCEAN COUNTY, N.J. (WTXF) - Authorities in New Jersey have arrested a contractor who was wanted for allegedly stealing approximately $270,000 from a total of 12 victims since 2014.

Peter Rinaldi, 56, was wanted for second-degree theft by deception and second-degree theft by failure to make required disposition of property received.

Police say Rinaldi could not be located at any of his listed addresses when authorities attempted to serve him.

Authorities arrested Rinaldi on April 6, after receiving information he may have been staying at a hotel in Galloway, New Jersey. Investigators tracked Rinaldi down and arrested him in the area of the hotel.

Police: Contractor sought in theft stole $270,000 from customers

According to investigators, Rinaldi took checks from a number of victims for proposed construction projects from July 2014 through August 2016. Rinaldi has operated under the company names of Donovan Mark Custom Builders, LLC and Mark Anthony Custom Builders, LLC.

Rinaldi allegedly deposited the checks into his bank account and at a check cashing facility and spent the money on "his personal benefit and gain." Police say Rinaldi provided no materials, supplies or labor for the 12 victims, whose deposits totaled nearly a quarter of a million dollars.