Published reports overstate Stern's UMDNJ fees by $5 million

By Wally Edge | March 30th, 2009 - 8:39am
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Published reports overstate Stern's UMDNJ fees by $5 million Herbert Stern, a former U.S. Attorney and federal judge, was the UMDNJ federal monitor in 2006-07.

Former U.S. District Court Judge Herbert Stern and his law firm, Stern & Kilcullen, received $3 million in fees for their work as the University of Medicine and Dentistry of New Jersey's federal monitor, not $8 million as indicated in published reports, the law firm says.  The $3 million was paid over a two year period and involved seven different people at the firm.  The $8 million UMDNJ paid to federal monitors included fees paid to consultants not affiliated with Stern & Kilcullen, including auditors.

Stern's fees have become an issue in the gubernatorial campaign of Republican Christopher Christie, who as U.S. Attorney gave Stern a no-bid contract as part of a deferred prosecution agreement with UMDNJ in 2006.  Some Democratic lawmakers and GOP gubernatorial candidate Steven Lonegan are making an issue of campaign contributions to Christie by Stern and others at his law firm.

A report filed by the federal monitors in 2007 says that the team headed by Stern, who served as U.S. Attorney before his nomination to the bench, identified $400 million of documented fraud, waste or abusive practices at UMDNJ.  The Stern investigation led to the indictment and conviction of Senate Appropriations Committee Chairman Wayne Bryant, and pushed the UMDNJ trustees to implement key compliance reforms.

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Distort....that's all they do.

Submitted by gorednj on March 30, 2009 - 7:48am.

Team Lonegan and Joe Cryan...perfect together.

That's not a distortion, just an overstatement

Submitted by FormerlyAnonymous on March 30, 2009 - 8:30am.

"Sure we got a huge no-bid contract and then turned around and donated money to the guy who gave us the huge no-bid contract, but the huge no-bid contract wasn't as huge as people are saying!"

To paraphrase the old Groucho Marx line, "We've already established what you are, and now we're just haggling over price."

ashcroft

Submitted by FrankJBartello on March 30, 2009 - 9:13am.

so does that mean ashcroft didnt really make fifty million?

Just an overstatement?

Submitted by the oc on March 30, 2009 - 9:37am.

Since when is $5 million "just an overstatement"? You have got to be kidding me.

No Duck Soup - The Quote's Misattributed

Submitted by Rip Hunter on March 30, 2009 - 9:52am.

"We've already established what you are, and now we're just haggling over price." I love Groucho Marx, but he is not the author of that bon mot. Credit belongs to Winston Churchill, who made that pithy comment to Lady Astor.

We are busy checking with Lady Astor to find out if that quote was a distortion or an overstatement.

What a stupid thing for Corzine to do...

Submitted by GOPanimal on March 30, 2009 - 12:53pm.

So the man who gave Carla Katz $6 million, gave millions to myriad powerful African American Ministers, and re-appointed a few Lehman executives to the state investment council a few days before suing Lehman for fraud wants to make hay out of contributions from on of the most apolitical and respected guys in New Jersey? If anyone doubted that Corzine is going to try to win by running the most negative campaign he can...this should settle it.

Stern is a pompus, self-rightous jerk

Submitted by Demsandonts on March 30, 2009 - 2:35pm.

I love when these "squeaky clean" wanna-be's who believe they are so self rightous are exposed for the frauds they truly are...

Only $5 million in legal fees?

Why isn't the US Attorney's office scouring over these billings?

Herb Stern, as obnoxious as the rest...

Vote Column "A"- All the way!

If anyone

Submitted by the oc on March 30, 2009 - 2:40pm.

I guess if anyone would know about being obnoxious, it would be you. So I will take your word that he is obnoxious.

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