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SEC reportedly probing New Jersey Governor Chris Christie's transport funding

(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.

The controversy has prompted scrutiny of nearly every aspect of the Christie administration and his Port Authority appointees. The Manhattan District Attorney's office is looking into the use of Port Authority funds by New Jersey. Federal investigators and a New Jersey special legislative committee are also probing the bridge incident.

A Christie spokesman did not reply to an email seeking comment.

About $3 billion of Port Authority funds were originally earmarked for an $8.7 billion project that would have built a new commuter train under the Hudson River. Though construction had already begun, Christie killed the project in 2010 after taking office.

But New Jersey is using some of those funds to rebuild the Pulaski Skyway and roadways leading to the Holland Tunnel.

Under its 1921 charter, however, the bi-state Port Authority's purview includes access roads to the Lincoln Tunnel, but not to the Holland Tunnel. So the Christie administration allegedly pressured the Port Authority in 2011 to re-brand the Pulaski Skyway as feeding the Lincoln Tunnel, according to Main Justice and The Record, a New Jersey paper.

A Port Authority spokesman declined to comment to Reuters. A local SEC official did not return a call seeking comment.

(Reporting by Hilary Russ; Editing by Mohammad Zargham)

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jim April 28 2014 at 4:47 PM

Chrisiie has more deniabilitiy than most politicians how does he know what is going on or is he just lying? He is certainly an expert manupliator.

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asemember April 28 2014 at 2:18 PM

But isnt that his own personal piggy bank? Next he will put the G.W bridge up for sale...

Flag Reply +1 rate up
GENE April 28 2014 at 5:03 PM

i thought all alone that the Gov was using the Port $ for his little" piggy bank". so bad for the people of New Jersey. and to think, he was the GOP front runner for President of the USA.

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spike April 28 2014 at 2:28 PM

Christi ,you could have been somebody.You coulda been a contenda.

Flag Reply +2 rate up
Chris and Paul April 28 2014 at 2:37 PM

The truth will come out... give it time!

Flag Reply +2 rate up
jasanftner April 28 2014 at 5:38 PM

A fish with his mouth closed never get's caught. Thankfully, this carp is feeding all the time.

Flag Reply +7 rate up
Ruege April 28 2014 at 5:35 PM

Someone certainly does not like this man and is going to do everything in their power to slander him. Or... it could be true. You decide.

Flag Reply +3 rate up
goodlucktu April 28 2014 at 2:44 PM

Washington is working overtime on this guy....Hillary and Bill are full bore.. what a ping-pong match...

Flag Reply +2 rate up
kimholmlund April 28 2014 at 5:29 PM

Maybe he is just a crook

Flag Reply +8 rate up
1 reply
njbowcop kimholmlund April 28 2014 at 5:41 PM

Thats it in a nutshell. He is a huge crook. Its amazing that some people are still buying his b.s. and drunk on the krispie kool-aid.

Flag Reply +3 rate up
stengernc April 28 2014 at 5:02 PM

10's of thousands of years of recorded history shows that humanity is flawed and when people become leaders the only thing that keeps them honest is transparency and jail time. We need more independent news reporting, we need truth in campaigning ads, we need a $100 limit on funding toward any political office and corporations cannot give any money, we need to ban all lobbists unless they meet politicians with the news reporters attending the meeting and have it open to the public. Finally, put the crooked politicians and their corporation leaders in jail if they break the law, no fines because fines come mostly from the stockholders profits, not the CEO's.

Finally, don't trust any politician of any party.

Flag Reply +6 rate up
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