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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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nnapodano April 29 2014 at 9:57 AM

the man will do anything to get his way including bullying. look what he did to the teachers, firemen and police unions he blamed us for the fiscal mess the pension fund is in when in actuality from govenor whitmen to him they have all taken money from the pension fund to close the budget gap with promises of putting the money back and then not doing so and now it is our fault. how would anyone feel if thier employer took money from your pension fund to keep thier business afloat and then when you got ready to retire tell you the fund is now in danger and maybe you will have to take cuts or work longer to retire after paying into that fund for years.

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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.

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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

Flag Reply +3 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.

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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
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.

Flag Reply +4 rate up
Chris and Paul April 28 2014 at 2:37 PM

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

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spike April 28 2014 at 2:28 PM

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

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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
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