NEW YORK, Oct. 25, 2016 /PRNewswire/ -- New Jersey Governor, Christopher J. Christie, is named as the lead defendant in a racketeering lawsuit (Kaul v Christie, et al., Docket No. 16-CV-02364) that is currently pending in the United States District Court, District of New Jersey. The New Jersey Governor and others are accused of extortion, wire fraud and mail fraud.
The complaint, filed by Indian physician and minimally invasive spine pioneer, Dr. Richard Arjun Kaul, alleges that the 'Bridgegate' embattled politician, engaged in an apparent scheme of bribes and kickbacks. The racket, orchestrated by the 2016 US Presidential hopeful, brought together the worlds of business, politics, medicine and a law, with a central purpose of raising campaign monies for the defendant politician.
The complaint alleges that in a quid pro quo scheme, the New Jersey governor accepted over $70 million in bribes from neurosurgeons, insurance companies and private hospitals, in return for having the medical board revoke Dr. Kaul's New Jersey medical license. It is alleged that the state attorney general, an appointee of the governor, altered court transcripts, in what became a 'win at all costs' scheme.
Two insurance companies, Allstate and Geico, and one bank, TD Bank NA, are also accused of having engaged in a pattern of racketeering. Geico is a subsidiary of Berkshire Hathaway, a global investment fund owned by billionaire investor, Warren Buffett, both of which were also named in the civil suit filed. During the pre-trial proceedings, the attorney for TD Bank, made the following comment to Dr. Kaul in response to a statement he made that tax liabilities supersede bank loans.
New Jersey is one of the most lucrative banking and insurance markets, and is regulated by the Department of Banking and Insurance, a state agency under the control of the defendant politician. The insurance companies owed Dr. Kaul's corporations $45 million and it is alleged that they conspired with the politician to have the medical board revoke Dr. Kaul's license in 2012, in order to avoid their $45 million debt. As a consequence of the defendant corporation's failure to inform their shareholders of the lawsuit, regulatory complaints have been filed with the Canadian bank regulator and the SEC regarding form 10-K.
The complaint's principal demands are monetary compensation, the reinstatement of Dr. Kaul's medical license, and a public apology. The damages sought are in excess of $9 billion, ninety percent of which has been pledged towards the development of global healthcare and educational programs, under the umbrella of The Spine Africa Project, a US based 501 (c) 3 charity.
The defendants' answers to the complaint must be filed by November 21, 2016, and will be followed by oral argument approximately four weeks later.
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SOURCE Richard Arjun Kaul, MD