Corzine Under Fire For Hedge Fund Connection To Harrah's Casino

Opponents will reach far and wide to dig up some dirt on their political adversaries. Republicans in the state of New Jersey have dug deep enough to uncover a connection between Governor Joe Corzine and an Atlantic City casino.

A hedge fund that Corzine has invested in is tied to the group that owns Harrah's Entertainment. Harrah's owns a casino in Atlantic City, and that creates a conflict of interest, according to certain Republicans.

"Today's report that Governor Corzine has personal financial investments in the New Jersey casino industry is shocking and reveals a colossal error in judgment that appears to be a violation of the law under the Casino Control Act," said Christopher Christie.

What Christie failed to mention is his comments was how Corzine's investment is completely legal under state law because the hedge fund he invested in does not own a stake in the casino. Corzine is in no way profiting from Harrah's in Atlantic City.

"This seems to be much ado about nothing," said CGW Legal Analyst Bob Brice, "the Governor (Corzine) has invested in a hedge fund that has no direct connection to the AC casino, and with Corzine not profiting from the casino, it really becomes a non-issue."

The state of New Jersey has tried for years to keep politicians away from any connections to Atlanti City casinos. With the integrity of the casinos an issue, politicians have created laws to ensure that lawmakers and casinos are not at any time intertwined when it comes to business.

Even with the law against him, Christie insists that the Governor has done something wrong. He is calling for all of the funds that Corzine has profited from the casino investment, which is zero, to be given back.

"In the interest of transparency, Governor Corzine must reveal exactly how much money he has invested in TPG," said Christie, "precisely how much money he has personally made from his casino investment, and then he should immediately divest the funds."

September 21, 2009
Posted By Larry Rutherford
Staff Editor, CasinoGamblingWeb.com
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