A financier previously convicted of stealing millions from pension funds has entered the race for Congress in New Jersey’s 11th District, setting up what is likely to become one of the most controversial campaigns in the state this election cycle.
The candidate, who served time after being found guilty in a federal case involving the misuse of retirement funds, filed paperwork this week to seek the seat in NJ-11, a district that covers parts of Morris, Essex and Passaic counties. The district is considered politically competitive, drawing national attention in recent election cycles.
According to court records, the former investment executive was convicted of diverting pension fund assets into unauthorized ventures, resulting in significant losses for retirees. Prosecutors at the time described the scheme as a breach of trust involving funds intended to secure workers’ futures. The candidate completed a prison sentence and later returned to the private sector.
In a statement announcing the campaign, the candidate acknowledged past wrongdoing and said the experience reshaped his views on financial oversight and government accountability. He framed his candidacy as a second chance, arguing that he can use his knowledge of the financial system to advocate for stricter transparency rules and stronger protections for investors.
Critics were quick to respond. Leaders from both parties questioned whether someone with a history of financial crimes should seek federal office, particularly in a district that includes many retirees and public employees who depend on pension stability.
“This is a district with thousands of families who rely on responsible stewardship of public funds,” said one local party official. “Voters deserve full transparency about his record.”
NJ-11 has been closely watched since redistricting reshaped parts of North Jersey’s political map. The seat has changed hands in recent years and is expected to draw a crowded field in the upcoming primary. Several established political figures are already campaigning, focusing on issues such as federal spending, property taxes and economic development.
The entry of a candidate with a high-profile criminal past could alter the dynamics of the race. Political analysts note that while redemption narratives sometimes resonate with voters, financial crimes tied to pension losses may prove especially difficult to overcome.
Campaign finance disclosures and policy platforms are expected in the coming weeks as the race takes shape. For now, the announcement has added a dramatic twist to what was already shaping up to be a closely contested congressional campaign in one of New Jersey’s most closely followed districts.
Voters in NJ-11 will head to the polls later this year, with party primaries likely to determine the direction of the race well before the general election.
