Murder plot: Dr. Anthony J. Moschetto is accused of hiring someone to kill his rival . A Long Island cardiologist had the office of another doctor torched, then hired someone who turned out to be an undercover police officer in a failed attempt to have the doctor hurt or killed, authorities said on Wednesday. Dr. Anthony J. Moschetto allegedly used drugs, guns and blank prescriptions as currency while trying to have the other doctor harmed amid a professional dispute, investigators said. Moschetto first allegedly hired two men to set fire to the man's office; it happened beneath a sprinkler and damage was minimal, prosecutors said. 'He was willing to pay $5,000 to have him beaten and put in the hospital for a couple of months and pay $20,000 to have him killed,' Nassau County Assistant District Attorney Anne Donnelly said of Moschetto's intentions. 'He wanted to put him out of business so he could get his business.' Moschetto worked with the rival cardiologist at a Great Neck practice on Northern Boulevard before setting up his own practice also in Great Neck, said Assistant District Attorney Ann Donnelly. Acting District Attorney Madeline Singas said 'luckily for this victim,' Moschetto was stopped. Investigators who went to Moschetto's home in Sands Point on Long Island's Gold Coast - one of the nation's wealthiest areas - found a weapons cache in a secret room that was accessed through a motorized bookshelf, they said. The weapons, which included dozens of knives, guns and a hand grenade, were displayed at a news conference Wednesday. The investigation into Moschetto started with his purchase of Oxycodone pills, heroin and two fully loaded assault weapons. Prosecutors said Moschetto had paid the undercover police officer $500 to perform a hit before getting arrested. He was caught on undercover video discussing the alleged plot. Attempt to kill: Cardiologist Anthony Moschetto, 54, pictured on Wednesday after he was arrested on charges he had another doctor's office torched, then hired undercover officers to have the doctor hurt or killed . Press Conference: Acting Nassau County District Attorney Madeline Singas announces the arrests of Anthony Moschetto, James Kalamaras and James Chmera during a news conference in Mineola on Wednesday . Moschetto faces a maximum sentence of 8 1/3 to 25 years in prison, prosecutors said. Newsday reports that Moschetto's charges include conspiracy, criminal sale of a controlled substance, arson, burglary, weapons possession, criminal sale of a firearm, and criminal solicitation. Two other defendants are charged in the case, accused of their involvement in the office fire, which occurred before the undercover investigation began. They, along with Moschetto, had been arrested Tuesday. Co-defendants James Chmela, 43, of Selden, and James Kalamaras, 41, also were scheduled for arraignment on Wednesday. 'Dr. Moschetto is a hidden monster living in the North Shore area who has no respect for law and life,'  said Nassau County Police Department Acting Commissioner Thomas Krumpter. 'He had enough weapons to provide a small army means to wreak harm.' Alleged arsonists: Co-defendants James Chmela (left), 43, of Selden, and James Kalamaras (right), 41, also were scheduled for arraignment on Wednesday . Co-conspirators: James Chmela (left) and James Kalamaras (right) were arrested for arson in a related scheme to allegedly destroy the rival doctor's office building, authorities said . Evidence: These knives were allegedly found by authorities in a secret room behind a bookshelf in the doctor's home in Long Island . The Drug Enforcement Administration also was involved in the investigation, which began in December. In asking for $500,000 bond, his Manhattan attorney, Randy Zelin, said Moschetto's attorney asked for a $500,000 bond and said that Moschetto was a 'well respected cardiologist.' 'My client has a wealth of roots in the community and has absolutely no reason to leave his family, to leave his children, and to leave what he has built in this community,' Zelin said. Weapons: Dr. Anthony Moschetto, 54, of Sands Point accused of trying to have an unidentified former business partner killed, had these guns confiscated from his home by the authorities . Illegal currency: Dr. Anthony J. Moschetto allegedly used drugs, guns and blank prescriptions (pictured) as currency while trying to have the other doctor harmed amid a professional dispute, investigators said .
Dr. Anthony J. Moschetto allegedly had the office of another doctor torched and tried to have the doctor hurt or killed .
Moschetto allegedly hired an undercover cop in a failed attempt to carry out his biddings .
Investigators who went to Moschetto's home in Long Island found a secret gun room accessible through a motarized bookshelf .
'He had enough weapons to provide a small army means to wreak harm,' said Police Commissioner Thomas Krumpter .
Moschetto faces a maximum sentence of eight to 25 years in prison .