TRENTON – An engineering firm whose executives face pay-to-play charges has reached a settlement with the state Attorney General over a civil action.
Attorney General Jeffrey S. Chiesa announced that Birdsall will pay the state $2.6 million to settle the civil forfeiture action.
This will include $2.5 million in forfeiture plus $100,000 to cover state fees for outside counsel in the bankruptcy case.
In addition, Birdsall must set up a $1 million fund dedicated to paying up to $1 million toward any fines, penalties and restitution that arise from the ongoing criminal action. That fund will mean that payment of such sums, up to $1 million, will be given priority treatment in the bankruptcy action.
Birdsall will fund most of these payments by drawing on the cash surrender value of certain “key man” life insurance policies it holds on its officers and former officers, many of whom have now been indicted. The remaining monies are being funded through cash on hand, the AG’s office said.
“Through this settlement, the state has gained a substantial sum in civil forfeiture from Birdsall and has secured its right to seek significant additional criminal penalties,” Chiesa said in a release. “At the same time, Birdsall can continue to operate, to perform its contracts and to pay its employees. Our goal has consistently been to punish the guilty and protect the state’s interests, without needlessly harming innocent employees or those doing business with the firm.”
The New York Times this morning offers a front page, in-depth look at operations at the Port Authority of New York and New Jersey prior to the Bridgegate scandal.Read More >
Days Since Last Christie Press Conference (Jan. 9)
FDU Poll: Christie plummets 20 points Gov. Chris Christie's job approval took a 20 point drop in three plus months, according to this morning's Fairleigh Dickinson University PublicMind Poll. Christie’s post Bridgegate job approval rating stands at 41% (with 44% who disapprove), down from 61% last November. Currently about...
BY JEFF BRINDLE Anytime now, the U.S. Supreme Court will render a decision in McCutcheon v. FEC. And while reformists may not like it, the high court is likely to allow national parties to raise far more money. That could strengthen them... Read More >
“Unfortunately for the governor, the investigation appears to be turning him into a more polarizing figure. As recently as late last year, his approval numbers were consistently bigger than his disapproves - by a pretty big margin - and more voters liked everything about him than disliked everything about him. One of the defining characteristics of the governor that makes him a nationally sought after Republican is his widespread appeal in a Democratic state. Bridgegate continues to erode that asset.” - FDU Poll Director Krista Jenkins.- PolitickerNJ.com
Press releases are submitted by PolitickerNJ users, not by staff. They do not represent the viewpoint of PolitickerNJ.com.