CRYAN FILES ELEC COMPLAINT AGAINST CHRISTIE FOR FAILURE TO DISCLOSE LOAN

CRYAN FILES ELEC COMPLAINT AGAINST CHRISTIE
FOR FAILURE TO DISCLOSE LOAN

(TRENTON) – Democratic State Committee Chair Joseph P. Cryan today filed a complaint against Conservative Right Wing Gubernatorial Candidate Chris Christie with the Election Law and Ethics Commission (ELEC)  for his failure to disclose a personal loan of $46,000 to Michele Brown, currently the first assistant to the United States Attorney, promoted since Christie’s resignation.  Cryan said that Christie is in clear violation of state law that promotes transparency, accountability and ethical behavior.
 
Cryan said that Brown has since been promoted but at time of the loan she was the executive assistant and counsel to Christie, the state’s former U.S. Attorney.

“Christie continues to fail to live up to the ethical standards he sets for others,” said Cryan.  “He is running for Governor -- failing to report a personal loan to a close colleague is a serious transgression and breaks both federal and state ethics rules.  Christie, of all people should know – he has prosecuted public officials for similar offenses, yet, he dismisses his own unscrupulous behavior as a simply an ‘oversight.’ This situation demands an immediate and thorough investigation.”

Cryan is calling for an immediate investigation by ELEC into Christie’s failure to disclose the loan to Brown which could constitute a fourth degree crime.

According to the recent New York Times article dated August 17, “Christie failed to report the loan as required under federal and state ethics rules.”  The New York Times article said that the loan was dated from October 22, 2007 with Christie earning a five and a half percent yearly interest rate on the $46,000 loan.  He allegedly received $499.22 a month as payment for the loan for a ten year period.

“Christie also must come clean about the questions this blatant conflict of interest raises – does he discuss his campaign with Brown?” said Cryan.  “How have their financial ties affected his candidacy?  It raises serious concerns about the stark contrast between what Christie says and what he actually does.  Despite Christie’s dismissal of this serious violation he is not above approach and just like any other New Jerseyan who violates the law Christie must be held accountable for his actions.”

According to the state Candidate Personal Financial Disclosure statute, income is defined broadly to include “interest.” (NJSA 19:44B-1)  Specifically, the statute states that “A candidate who willfully and knowingly files any financial disclosure statement which is false, inaccurate or incomplete in any substantial and material manner or particular, shall be guilty of a crime of the fourth degree.” (NJSA 19: 44B-6b)

Cryan said that ELEC has the power to “hold, or to cause to be held, hearings upon such violation and, upon finding any person to have committed such a violation, to assess such penalty within the limits prescribed.” (NJSA 19:44B-8b).   

The Chairman said that once Christie’s actions are investigated and a hearing is held that under New Jersey statutes Christie could be charged with a fourth degree crime which carries penalties including up to 18 months of prison time and fines up to $10,000.