George Norcross, a powerful figure in New Jersey politics, was indicted on Monday on racketeering charges.
The indictment stems from a sweeping investigation into Norcross' political and business dealings, particularly his influence over real estate deals and political decisions in Camden, New Jersey.
Despite never holding elected office, Norcross wielded significant power through his control over South Jersey's Democratic machine, influencing legislation and political appointments for decades.
Norcross' political ascension began in the late 1970s when he started leveraging his position within local government and business to consolidate power. His influence peaked during the tenure of Republican Gov. Chris Christie, with whom he formed a bipartisan alliance that resulted in substantial economic benefits for South Jersey, including over $1 billion in tax incentives directed to businesses linked to Norcross and his associates.
Nocross's brother, Phillip, and four other defendants were also charged by New Jersey Attorney General Matthew Platkin (D) in the 13-count indictment.
Nocross was actually present at Platkin's press conference where he was to announce the charges, alluding to his widespread influence in the state capital.
CNBC adds:
The indictment says that “members and associates of the Norcross Enterprise, including George Norcross III used their political influence to tailor New Jersey economic development legislation to their preferences. After the legislation was enacted in September 2013, members and associates of the Norcross Enterprise conspired to, and did, extort and coerce others to obtain—for certain individuals and business entities — properties and property rights on the Camden, New Jersey waterfront and associated tax incentive credits.”
“The entities that benefitted, including Cooper Health and [the insurance firm Conner Strong & Buckelew CSB] then occupied the properties they obtained interests in and sold the tax credits they obtained for millions of dollars,” the indictment said.
Norcross was chair of the board of trustees of Cooper University Health Care and chair of Conner Strong & Buckelew.
Another brother, David Norcross, is currently a member of the House of Representatives for a district in southern New Jersey. David Norcross is not charged in the case involving his two brothers.
This is a breaking news story. Please check back for updates.
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