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.
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The rating agency cited New Jersey's "robust budgetary surplus" while continuing to make actuarially based pension contributions.
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