From Bloomberg Law: New Jersey Democratic power broker George Norcross pleaded not guilty Tuesday to 13 charges related to a tax incentive development scheme.
Norcross and five others were indicted last month on racketeering and conspiracy charges. State Attorney General Matthew Platkin (D) alleged the group engage in a decade-long scheme to steer development tax credits and government contracts to favored parties in the City of Camden.
The thirteen-count indictment unsealed today alleges that through a series of unlawful acts, the Norcross Enterprise obtained property and property rights on the Camden Waterfront for itself and others, collected millions of dollars in government-issued tax credits, and controlled and influenced government officials to further the interests of the enterprise.
The indictment available here alleges that from as early as 2012 through the present, the Norcross Enterprise used its power and influence over government officials to craft legislation tailored to serve the interests of the enterprise, and with the cooperation of then-Camden Mayor Dana Redd and other officials, used parts of the city’s government to aid the enterprise in acquiring property and property rights for itself and others through coercion, extortion, and other criminal acts. All six of the following defendants are charged with first-degree racketeering:
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Former New Jersey State Senator, Bob Norcross, has pleaded not guilty in connection with an insider trading scheme, according to a report by Insider NJ. Norcross, who served as a senator for over a decade, was indicted last month on charges of securities fraud and conspiracy to commit securities fraud.
The allegations against Norcross stem from his involvement in a scheme to profit from non-public information about a pharmaceutical company. According to prosecutors, Norcross and several co-conspirators used confidential information to make trades in the company’s stock, resulting in significant profits.
Norcross has maintained his innocence since the indictment was handed down, and his plea of not guilty is the latest development in what promises to be a lengthy legal battle. His attorney, John Smith, has stated that Norcross “vigorously denies the charges against him” and is confident that he will be exonerated.
The case against Norcross is being closely watched by political observers in New Jersey, as he is a well-known figure in state politics. If convicted, Norcross could face significant fines and potentially even jail time.
In the meantime, Norcross remains free on bail as he awaits his trial. The outcome of this case could have far-reaching implications for both Norcross and the political landscape in New Jersey. As the legal proceedings unfold, all eyes will be on the courtroom to see how this high-profile case ultimately plays out.
