Streams

Christie's Brother's Investments Draw Scrutiny, But Not Much Money

Thursday, January 30, 2014

WNYC

The Bergen Record reported this week that Gov. Christie’s brother invested in seven residential properties several blocks from where a new PATH train station, championed by the governor, is being built in the town of Harrison.

But tax documents reviewed by WNYC indicate that Todd Christie has only made about $13,000 so far on those properties. 

Todd Christie's investments are under scrutiny because the train station project, valued at $256 million, is being handled by the Port Authority, which is at the center of recent scandals plaguing the governor.

Port Authority Chairman David Samson, a Christie ally, has been associated with both the bridgegate scandal and the alleged shakedown of the Hoboken mayor over Sandy funds. Even though Samson had private business interests in a property near the train station, he voted to approve the project in his capacity as Christie's appointee to the Port Authority.

Tuesday’s Bergen Record story raised questions about whether Todd Christie also benefited from the Port Authority deal pushed by the governor. The governor's brother purchased the property after Christie took office, and before the Port Authority deal was approved.

The tax returns, though, show he has lost money on one of the properties and only made $13,000, total, on sales. He still owns a share in four other properties near the PATH station.

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Comments [1]

Lester Phillips from New Jersey

They call it a sham transaction for tax purpose Todd did a wash deal so not have to pay any taxes. I would like to know how much Todd Christie put up in cash to become a limited partner or was he cut in for piece of the pie cause had inside info .

Jan. 30 2014 06:18 PM

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