"Lasciate ogne speranza, voi ch'intrate"
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| New Jersey Gov. Chris Christie's administration kept investments in Prudential, after its top official gave to Christie's campaign.Reuters/Mike Segar |
Republican Gov. Chris Christie's administration has over
the past five years paid at least $6.5 million in taxpayer fees to
Prudential Financial to manage New Jersey pension funds, even after
company officials made substantial contributions to Christie's 2009
gubernatorial campaign, International Business Times has learned. One of
the Prudential officials was Christie's top fundraiser, adviser and
donor. Christie appointees nonetheless maintained investment contracts
with Prudential despite state rules that require such contracts to be
canceled when executives at firms managing pension money donate to or
raise money for state lawmakers.
“It sounds like it’s a clear conflict with the rules,”
said Melanie Sloan, a former U.S. Department of Justice official who
served as executive director of the watchdog group CREW (Citizens for
Responsibility and Ethics in Washington), after IBTimes described its
findings. “It seems like this thing is a clear violation of the rules.
The rules just haven’t been enforced and now everyone is scrambling for
cover.” READ MORE
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