In February 2005, Ricci was charged with wire fraud and extortion. Using his alleged control of an International Longshoremen’s Association local, Ricci was accused of diverting hundreds of thousands of dollars to the Cosa Nostra from a medical fund for longshoremen. Ricci allegedly embezzled the money by steering a union pharmaceutical contract to a company with known Mafia ties. The Genovese and Gambino crime families netted over $400,000 and Ricci received $70,000. The trial began in mid-September. On October 7, 2005, Ricci failed to show up in court. The judge issued an arrest warrant for Ricci and the trial continued. On November 7, 2005, the absent Ricci and his two co-defendants were acquitted on all counts.
On November 30, 2005, a patron complained about a foul odor and flies around a car at the Huck Finn Diner in Union, New Jersey. The car had been parked at the diner for the last six weeks. The restaurant manager called police, who discovered the rapidly decomposing body of Lawrence Ricci in the trunk; he had been shot. There was speculation that the Genovese family killed Ricci during his trial because he had refused to accept a plea bargain and a prison sentence. A law enforcement official was also quoted as saying the slaying resulted from an unrelated power struggle in Ricci's mob crew.
- THE REGION; Charge Reinstated Against Fiumara New York Times
- Marzulli, John (September 21, 2005). "DOCK UNION BIGS GO ON TRIAL ACCUSED OF PLOTTING WITH MOB". New York Daily News. Retrieved 10 April 2012.
- "Three Longshoremen Not Guilty Of Fraud and Other Charges" By WILLIAM K. RASHBAUM New York Times November 9, 2005
- "Body Found in Car Is Said to Be Mob Figure's" By WILLIAM K. RASHBAUM New York Times December 1, 2005
- "Metro Briefing | New York: Brooklyn: Court Papers Detail Mob Killing" By WILLIAM K. RASHBAUM New York Times
- National Legal and Policy Center: LONGSHOREMEN (ILA) Body in Car Trunk Was Ricci’s; Funeral Held
- National Legal and Policy Center:LONGSHOREMEN (ILA)Union Officials, Mobster Found Not Guilty; Questions Remain