And More Christie Corruption and Cronyism Raises its Head

As a result of "Bridgegate" Chris Christie's deals are getting a lot more scrutiny.

Now it appears that Christie threw a $300 million dollar pension deal to a supporter in violation of state anti-corruption laws:

A PandoDaily investigation has discovered evidence that Gov. Chris Christie’s pending deal to award a $300 million pension management contract to a controversial hedge fund is in violation of state anti-corruption laws.

New Jersey state pay-to-play statutes prohibit state contractors from directly or indirectly financially supporting the election campaigns of state officials. Those statutes also explicitly prohibit the use of outside groups or family members to circumvent that ban.

Additionally, separate Department of Treasury rules appear to prohibit public pension contracts from being awarded to investment firms whose employees have made significant financial contributions to political entities organized to operate in New Jersey state elections. Those laws also bar investment firms doing business with the state from making contributions “for the purpose of influencing any election for State office.”

Yet, late last month, the New Jersey State Investment Council moved to award a controversial $300 million investment contract to Chatham Asset Management, despite the fact that Chatham’s principal, and a woman living at his address and sharing his surname, donated more than $50,000 to a Republican election group that oversaw major portions of Gov. Christie’s 2013 re-election operation. The proposed investment is already highly controversial given the hedge fund also reportedly owns a stake in the Atlantic City casino, Revel.

Craig Holman of the watchdog group Public Citizen, which originally lobbied for the pay-to-play statute, said that the $300m offer “appears to be not an indirect violation, but a direct violation of the law.”

What's more, Chatham is providing free space to a charity chaired by Mary Pat Christie, the first lady if the great state of New Jersey:

As part of that investigation we have also learned that Chatham made a large in-kind donation to the Hurricane Sandy Relief Fund, which is chaired by the governor’s wife, Mary Pat Christie. That charity has been plagued by allegations that it is a stealth conduit for corporations to buy influence and circumvent campaign finance regulations.

In an interview with Pando, a spokeswoman for the Hurricane Sandy Relief Fund acknowledged that Chatham Asset Management housed the 501(c)3 organization from November 2012 to February 2013, a total in-kind donation value of approximately $15,000.

For his part, Gov. Christie has denied that the Hurricane Sandy Relief Fund would be used as a way to wield influence with him. At a 2013 press conference, he said donors to the charity “know, because they know me, that it will not one iota affect the way I execute my job as governor or any decisions I have to make as governor regarding the use of public money.”

Drip, Drip, Drip.