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Port Authority to Pay $400,000 to Settle SEC Claims It Misled Investors

, New Jersey Law Journal

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The Port Authority of New York and New Jersey has agreed to pay the U.S. Securities and Exchange Commission a $400,000 penalty to settle allegations that it impermissibly raised at least $2.3 billion in bond revenue to pay for non-authority transportation projects in New Jersey.

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  • Inderbir

    Now that we‘ve established it was illegal, can the State of NJ please return the $1.8 billion it stole from us (tollpayers)?

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