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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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missourift April 29 2014 at 6:45 AM

Editing by Mohammad Zagham, now does that not tell you something!! Nope not a liberal!!

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Chris and Paul April 28 2014 at 2:37 PM

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

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gwenrod8 April 28 2014 at 2:03 PM

well i keep saying why put them there all they do is help themselves

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mowens4 April 29 2014 at 2:56 AM

Does it really matter what party he belongs to? If he has been doing illegal stuff we needa to know before he gets in the White House. I for one have had enough of government taking liberties with the tax payers hard earned money.

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weilunion April 28 2014 at 2:06 PM

The extremes of this story have not even been reported. That Chrisite is still in office and in the news is as bad as the days of Tom Delay.

Christie basically thinks he owns the state treasury and uses the money of the people for projects that benefit his friends, Wall St. and his own career.

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vetter66 April 28 2014 at 3:45 PM

tony soprano

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ualfriend April 28 2014 at 4:51 PM

New York Rep. Grimm indicted on federal fraud, tax charges, another repub

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1 reply
Rich McCormack ualfriend April 28 2014 at 5:25 PM

You must have missed all the democrats in the news/court reports lately.

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benny April 28 2014 at 4:24 PM

This country is no longer the UNITED STATES OF AMERICA, it is the DEVIDED STATES OF AMERICA. United we stand, devided we fall !!! One day we will be working for the chinese, PEOPLE WAKE UP ........

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1 reply
rmorrell200 benny April 28 2014 at 4:43 PM

Why,,, we like our freebies and social programs,, My government cares about me,,, sigh,,,

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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...

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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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