710 KNUS News

6/12/2014 5:38 PM
Report: Port agency faces Securities bridge probe

NEWARK, N.J. (AP) — Officials from the Port Authority of New York and New Jersey have confirmed the Securities and Exchange Commission is the latest agency to launch an investigation into its operations after the George Washington Bridge lane closure scandal.

The Record newspaper reports (http://bit.ly/1oZ1pSr) the Port Authority acknowledged the SEC investigation in a document it released Thursday to prospective buyers of its bonds.

The newspaper says the SEC is looking at the Port Authority's justification for diverting $1.8 billion to pay for New Jersey road repair projects at the urging of Republican Gov. Chris Christie's administration.

The document also discloses the agency and related people have received several subpoenas, including from New Jersey federal prosecutors and the Manhattan district attorney's office.

Christie has denied advance knowledge of a plan to create traffic jams at the bridge.

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Information from: The Record (Woodland Park, N.J.), http://www.northjersey.com



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(Copyright 2014 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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