Tags: | Chris Christie | New Jersey | pension money | KSL Capital

Report: NJ Reviewing Christie Pension Move Involving GOP Donor

By    |   Wednesday, 25 Mar 2015 03:36 PM

New Jersey officials will review the Christie administration's proposed $100 million investment of pension money in a company headed by a major donor to the Republican Governors Association, a group headed by Gov. Chris Christie until this year, the International Business Times reported.

At issue is the administration's proposed investment of $100 million worth of pension money in KSL Capital. The company's founder and chairman is Mike Shannon, who together with his wife gave $2.5 million worth of donations to the RGA in 2013 and 2014.

The IBT reported that $500,000 of that came in 2013, when the RGA was backing Christie's successful re-election campaign in New Jersey. Another $2 million went to the governors association in 2014, when Christie was chairing the group.

Christie and the RGA were tremendously successful on election night, which included victories in hotly contested races in Florida and Wisconsin and pickups in blue states like Maryland, Massachusetts, and Illinois.

Citing data from the Center for Responsive Politics, the IBT reported that Shannon and his wife were together the sixth-largest donor to the RGA in the 2014 election cycle.

The report on the proposed $100 million investment in KSL Capital came just a week after the IBT reported that the Christie administration had committed $300 million in public employee retirement money to a subsidiary of a foreign company whose Hong Kong-based executive had contributed to Christie and the Republican National Committee.

It is the latest ethics controversy to dog Christie in recent months.

Several months ago, complaints were raised about a contract awarded by the Port Authority, co-owned by the states of New York and New Jersey, to a hospitality company co-owned by Dallas Cowboys owner Jerry Jones.

The company would manage the observation deck atop the new 1 World Trade Center, which is scheduled to open this year.

Jones reportedly paid for Christie's private jet to Texas and his luxury suite at the Cowboys' Jan. 4 home playoff game against the Detroit Lions.

Christie has defended the gift from the Cowboys' owner as permissible under New Jersey law.

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New Jersey officials will review the Christie administration's proposed $100 million investment of pension money in a company headed by a major donor to the Republican Governors Association, a group headed by Gov. Chris Christie until this year, the International Business Times reported.
Chris Christie, New Jersey, pension money, KSL Capital
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2015-36-25
Wednesday, 25 Mar 2015 03:36 PM
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