Joseph Simonelli, the Riverhead man accused by federal prosecutors of stealing more than $10 million from a family business, has been released on bond but by court order is confined to his home, his defense attorney said today.
Simonelli, 55, was ordered held without bail by a federal magistrate Nov. 12, after prosecutors produced testimony and recorded evidence of his threatening statements to his sister. The magistrate also ordered a mental health evaluation.
Defense attorney Michael Cornacchia said Simonelli, after a bail application hearing Monday, was released on a $750,000 personal recognizance bond secured by his house and his daughter’s house.
“He is confined to his home except he can leave to go to church or the doctor or to meet with his attorneys,” Cornacchia said. “He has to wear a monitoring bracelet and is not to have contact with any potential witnesses.”
Simonelli is an owner of Serendipity Farm, a 25-acre thoroughbred race horse facility on Mill Road in Riverhead. He purchased the property in 2012 and has since developed it with a barn, indoor arena and training track.
He is currently facing a charge of conspiracy to commit mail fraud in connection with the alleged theft of more than $10 million from his family’s business, F.W. Sims Co., a West Babylon-based heating and air conditioning company that installed HVAC systems at 1 World Trade Center and Yankee Stadium. He was the firm’s chief financial officer.
Simonelli is due back in federal district court in Central Islip on Jan. 22, his attorney said.
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