The man described by prosecutors as one of the nation's most powerful crime bosses pleaded guilty for the first time and cried before a federal judge as he admitted to extortion and racketeering.

Anthony "Fat Tony" Salerno, the 78-year-old reputed former boss of the Genovese crime family, told the judge Monday he was guilty of trying to wrest control of a Morris County sand-pit business and trying to extort $500,000 from its owner, Andrew Giordano.Salerno already is serving a 100-year sentence for his 1986 conviction as a mob boss in the New York trial of the Mafia's ruling "Commission."

Salerno could be sentenced to an additional five years in prison.