"NJ Energy Company Hit with $5M Fine Over Tax Break Scandal"
TL;DR
Holtec International, a New Jersey energy company linked to powerful Democrat George Norcross III, has agreed to pay a $5 million penalty to avoid criminal charges after an investigation into fraudulent tax breaks. The company, which dismantles nuclear power sites, was found to have submitted a bogus 2018 application for $1 million in tax credits. Norcross, who sits on Holtec's board, has not commented on the matter. The state attorney general's office emphasized that regardless of size or influence, those who deceive the state for financial gain will be held accountable.
Topics:nationbusinesspolitics#businesspolitics#criminal-investigation#energy-company#george-norcross-iii#new-jersey#tax-breaks
- Tax Break Scandal Leads to $5 Million Fine for N.J. Energy Company The New York Times
- Holtec, Singh will pay state $5 million to avoid criminal prosecution New Jersey Globe | New Jersey Politics
- Politically-tied firm fined $5M for double dipping on tax credits. It has been in hot water before. NJ.com
- Holtec International Agrees to Pay $5 Million Penalty InsiderNJ
- Holtec to Pay $5M State Fine After Criminal Probe TAPinto.net
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