Better get used to those bars, kid from todays TIMES: Investigations into the Christie administration and the Port Authority of New York and New Jersey have zeroed in on possible securities law violations stemming from a $1.8 billion road repair agreement in 2011, according to people briefed on the matter. They are being conducted by the Manhattan district attorney and the Securities and Exchange Commission. The inquiries into securities law violations focus on a period of 2010 and 2011 when the Christie administration diverted money that was to be used on a new Hudson River rail tunnel that Mr. Christie canceled in October 2010 for repairs to the Pulaski Skyway. The Pulaski Skyway is owned and operated by the state, putting it outside the agency’s purview Under a New York State law known as the Martin Act, prosecutors can bring felony charges for intentionally deceiving bond holders, without having to prove any intent to defraud or even establish that any fraud occurred. Two veteran prosecutors in the Manhattan district attorney’s office public corruption unit are working with two S.E.C. lawyers.
Posted on: Wed, 25 Jun 2014 02:38:18 +0000
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