SECAUCUS -- One of the owners of a Secaucus-based scrap metal business has admitted to his role in a roughly 17-year conspiracy to scam customers out of millions of dollars, Acting U.S. Attorney William E. Fitzpatrick announced in a statement.

Craig Cinelli, 47, of Allendale, the minority owner of Cinelli Iron & Metal Co. (CIMCO), pleaded guilty on Thursday to a single count of conspiracy to commit wire fraud.

David Barteck, 53, of Wood-Ridge, who was the former chief financial officer of CIMCO, and Michael A. Valenti III, 43, of Hasbrouck Heights, who was the former senior vice president of sales at CIMCO, pleaded guilty for their roles in the conspiracy earlier this year.

Cinelli's brother, Joseph Cinelli, was arrested and charged in August for his alleged role in the scheme. However, those charges remain pending, the statement said.

From 1999 through March of 2016, Craig Cinelli, Joseph Cinelli, Barteck, Valenti, and others allegedly bought scrap metal from CIMCO's customers for less than the men should have paid and then resold it at a profit, the statement said.

According to officials, instead of paying the agreed-upon price for the actual weight of the scrap metal, the men "used a variety of techniques to misrepresent" the scrap metal's the true weight and type, including "altering documents to reflect a lower weight, removing scrap metal from a haul before it was weighed and misrepresenting the types of scrap metal contained in a haul."

Craig Cinelli admitted that the scheme netted more than $9.5 million but less than $25 million, the statement said.

The conspiracy and wire fraud charges each carry a potential maximum sentence of 20 years in prison and a $250,000 fine or twice the gross gain or loss from the offense, according to officials.

Sentencing is scheduled for Feb. 15.

Spencer Kent may be reached at skent@njadvancemedia.com. Follow him on Twitter @SpencerMKent. Find the Find NJ.com on Facebook.