He now faces up to 48 years in state prison.
The judge ordered Petronella to return to court April 23 for sentencting.
Petronella's wife Devon Lynn Kile, 44, is also charged in this case.
Kile remains in custody on $250,000 bail.
The court has ordered Kile to undergo a mental health competency hearing before trial.
"This case is an outrageous example of a person who lavishly spent illegal profits on luxury goods by cheating the Workers' Compensation Insurance system and legitimate businesses that play by the rules," said a spokesman for the Orange County District Attorney's Office.
Orange County District Attorney Tony Rackauckas said, "Cheaters who defraud the system will be trading in their Pradas for prison garb."