A New Jersey judge has dismissed racketeering charges against high-profile insurance brokerage figure George Norcross III and five co-defendants, delivering a major setback to state prosecutors who accused him of leveraging political clout and coercive tactics to obtain valuable Camden waterfront property and millions in tax credits.
The ruling, issued Wednesday by Mercer County Superior Court Judge Peter Warshaw, concluded that the indictment failed to meet legal standards for extortion or criminal coercion. Additionally, the judge determined that the statute of limitations had expired, further justifying the dismissal of the 13-count indictment.
"The indictment must be dismissed because its factual allegations do not constitute extortion or criminal coercion as a matter of law," Warshaw wrote in his 100-page opinion.
The charges, initially brought in June 2024 by New Jersey Attorney General Matthew J. Platkin, accused Norcross and his associates of manipulating state tax incentives to secure financial benefits while allegedly pressuring a competing developer into a property sale under unfavorable terms. Norcross is executive chairman of Conner Strong & Buckelew, part of Broadstreet Partners.
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Among the co-defendants cleared of charges were Norcross’ brother, Philip, CEO of the Parker McCay law firm; attorney William Tambussi; former Camden Mayor Dana Redd; trucking company executive Sidney Brown; and real estate developer John J. O’Donnell.
Following the decision, Norcross' attorneys celebrated what they described as a complete vindication. Michael Critchley, Norcross’ lead defense lawyer, characterized the case as a politically motivated effort by Platkin, a close ally of Governor Phil Murphy.
“This was a baseless, politically driven prosecution,” Critchley told reporters, adding that both federal prosecutors in New Jersey and Pennsylvania had previously declined to pursue charges. He also called for an independent review of the attorney general’s handling of the case, questioning the integrity of the investigation.
Despite the setback, Attorney General Platkin remains steadfast, stating that his office will appeal the ruling.
“I have never promised that these cases would be easy because too many have come to view corruption as simply the way the powerful do business in New Jersey,” Platkin said in a statement. “We strongly disagree with the trial court’s decision and will continue to fight corruption at every level.”
The case centered on Norcross' role in Camden's waterfront redevelopment over the past decade. Prosecutors alleged that in 2016, he used threats and intimidation to pressure Philadelphia-based developer Carl Dranoff into selling property rights below market value, allowing Norcross and his partners to secure lucrative tax credits through a 2013 economic incentive law that he helped craft.
According to the indictment, Norcross allegedly told Dranoff he would “f— you up like you’ve never been f— up before” if he refused to comply. However, Warshaw sided with the defense, ruling that such statements were part of aggressive business negotiations rather than criminal extortion.
“This was a high-stakes power struggle between two experienced developers, each trying to gain the upper hand in a multimillion-dollar deal,” Warshaw wrote. “In the world of competitive business, strong rhetoric does not necessarily equate to unlawful coercion.”
The indictment also included allegations that Norcross and his brother Philip exerted undue influence over the nonprofit Cooper’s Ferry Partnership to alter an office development deal to benefit their preferred developer. However, Warshaw found the evidence unconvincing.
“The political reputation and business influence of the Norcross brothers may have been well known, but that does not turn a firm business stance into a criminal threat,” he stated.
Former Camden Mayor Dana Redd, who was accused of leveraging her public office to benefit Norcross, issued a statement following the ruling.
“My love and commitment to Camden remain steadfast, and I will never stop fighting for this city,” she said.
While the attorney general’s office insists the case is far from over, Norcross’ legal team remains confident that an appeal will not revive the prosecution. Critchley dismissed Platkin as a “lame duck” attorney general, noting that Governor Murphy’s term is set to end in January 2026, likely bringing new leadership to the state’s law enforcement agency.
“This case is over,” Critchley declared. “Any independent review will come to the same conclusion—there was never a crime here.”
BroadStreet Partners, founded in 2001 by Rick Miley, is a prominent insurance brokerage holding company headquartered in Columbus, Ohio. The firm specializes in investing in entrepreneurial, high-performing independent agencies seeking growth support and ownership succession solutions. Utilizing a unique co-ownership model, BroadStreet allows its partners to retain operational autonomy while benefiting from financial backing and strategic guidance. This approach has fostered ownership opportunities for over 800 agency professionals across more than 300 offices nationwide.
In April 2023, BroadStreet expanded its North American presence by partnering with Westland Insurance Group, a leading Canadian independent insurance brokerage.
Leadership transitions have also marked BroadStreet's recent developments. In January 2023, Michael O'Connor, who joined the company in June 2022, assumed the role of chief executive officer. O'Connor brings a wealth of experience from his previous tenure at Aon plc, where he served as co-president and was a member of the executive committee.
BroadStreet's distinctive partnership model has propelled significant growth, with core partners achieving an average annual growth rate of 30% since joining the firm. Collectively, these partners generate over $2 billion in revenue and employ more than 9,200 professionals dedicated to delivering comprehensive insurance solutions.
