A former Newark official was indicted last week on federal corruption charges for allegedly receiving cash bribes in return for his influence in securing business contracts with the city. U.S Justice Department officials say Keith Reid, the former chief of staff for City Council president Mildred Crump, allegedly accepted $13,500 for his ability to generate Newark and Irvington Township contracts for an insurance company. Reid is charged with numerous attempted extortion and bribery charges and allegedly received a bribe on behalf of an Irvington official.Officials say Reid was recorded by undercover witnesses on several occasions accepting bribes and assuring them of his influence within local government.“We have relationships obviously in Irvington and obviously in Newark” and other municipalities, Reid said, according to the indictment. “Folks there we can pick up the phone and call and open doors.”New Jersey authorities arrested Reid and 10 other public officials in September in an undercover statewide corruption sting operated by the U.S. attorney’s office.
-
In a move that kicks the can down the road at the very least, the Commission has begun a process that often results in outright rejection.
1h ago -
The 2022 law, which has so far banned three major investment banks from underwriting municipal bonds in Oklahoma, could be amended to limit its reach to state agencies.
3h ago -
The SEC has won a partial victory against Choice Advisors and its principal Matthias O'Meara for their role in acting as unregistered brokers and for engaging in a fee-splitting arrangement.
4h ago -
The trio have decades of experience in high yield and investment grade portfolios and will launch new high-yield investment strategies and vehicles for Rockefeller.
5h ago -
"The rating action reflects our view of MIA's substantial demand, which surpasses pre-pandemic activity, and its leadership in enplanement growth for large hub airports since the fiscal 2019 peak," said S&P's Nora Wittstruck.
6h ago -
A state ban on bond underwriters that "boycott" or "discriminate" against the fossil fuel or firearms industries has resulted in fewer banks providing municipal financial products and services.
8h ago