NJ Governor Chris Christie Under Investigation by SEC for Use of $1.8 Billion for State Projects

(Illustration by DonkeyHotey)

By Reuters
Federal securities regulators are probing whether New Jersey Governor Chris Christie’s administration improperly diverted funds from the Port Authority of New York and New Jersey for use on transport projects in New Jersey, the publication Main Justice reported on Friday.

The Securities and Exchange Commission is looking into New Jersey’s use of up to $1.8 billion in tax-exempt bond financing from the Port Authority to fix a bridge and roadways feeding into the New Jersey side of the Holland Tunnel, Main Justice reported, citing unnamed sources.

The SEC’s inquiry follows several other probes launched after the so-called Bridgegate scandal, in which operatives loyal to Christie’s administration are accused of causing traffic jams on the George Washington Bridge in September in retribution for a New Jersey mayor not endorsing Christie’s re-election.

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