"NJ Energy Company Hit with $5M Fine Over Tax Break Scandal"
Originally Published 1 year ago — by The New York Times
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.
