Ex-Newark Water Agency Head Accused Of Spending Abuses

Law360, New York (February 19, 2014, 7:56 PM EST) -- The former executive director of an entity that was contracted to manage Newark, N.J.'s water assets cut herself unauthorized payroll checks, allowed risky margin trading in an account that lost $558,000 in public funds and handed no-bid contracts to personal associates, a state watchdog said Wednesday.

The damning 48-page report by the New Jersey Office of the State Comptroller found that the now defunct Newark Watershed Conservation and Development Corp., which received no-bid service contracts from Newark worth about $10 million a year, recklessly blew millions...
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