New Jersey Money Laundering Ring, 44 Arrests Made
Although since 2001 New Jersey has witnessed more than 130 public officials plead guilty or be convicted of corruption, the recent June 23, 2009 report of 44 individuals being arrested as part of a money laundering ring is quite shocking. Not only has a New Jersey governor’s cabinet member resigned, but three mayors, two state legislators, and several rabbis were taken into custody. The very detailed investigation will continue as the vast corruption of trafficking goods ranging from human organs to false designer handbags reveals itself.
Head of the FBI’s “white-collar and public corruption investigation” division stated, “New Jersey’s corruption problem is one of the worst, if not the worst, in the nation…corruption is a cancer that is destroying the core values of this state.”
Within the many arrests made, some of the charges brought against New Jersey officials included posing as a developer and gaining permits and approvals through accepting significantly large sums, conspiracy to commit extortion in illegal campaign contributions, and accepting cash bribes. The charged group as a whole is alleged to have laundered up to as much as tens of millions of dollars through charities managed by rabbis in New Jersey and New York.
Money laundering in New Jersey is a serious type of white-collar crime that can greatly jeopardize an accused person’s reputation, much as it will undoubtedly affect the public officials facing these charges, most facing lengthy jail time and heavy fines. Earning back the public’s trust, even if you were only accused yet not convicted of corruption, is something that can take decades to take place, if it even happens at all.
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