Larsen Proposal Very Much Like Enron Ripoffs Recommended By Arthur Anderson Accounting Firm: Also, Accountant, Candidate, Committeeman Elect Larsen Never Disclosed He May Have A Serious Conflict Of Interest On Dover MUA Dissolution Proposal

Dover Township: The Richard Larsen program to dissolve the Utilities

Authority is very similar to set-ups used by the Arthur Anderson Accounting Firm to transfer funds in the Enron Corporation three years before both firms were sent into receivership.

Larsen May Have Massive Undisclosed
Conflict Of Interest

OceanCountyPolitics•Com has also learned that Larsen’s proposal to dissolve the DMUA may also represent a massive undisclosed conflict of interest for Larsen himself.

The Democratic committeeman-elect, who is himself an accountant, wants to take vital reserves from the DMUA and transfer them to township bank accounts in order to subsidize the township budget and briefly postpone an enormous tax increase which is set to happen next year or the year after as township deficit spending policies reach their natural conclusions.

This would precipitate the sixth financial crisis since 1980 because, not only would there be a world class tax increase in the school system and the township, but the DMUA would no longer have sufficient funds to balance the sewer utility budget.

Enron History Repeating Itself

This is exactly what happened at the Enron Corporation, and exactly what happened at the Dover MUA twenty years ago under a Democratic administration and, as chance would have it, the crisis was caused, in major part, by the authority auditor who allowed the agency to slip into a serious deficit situation and then tried to cover it up.

James Haluska, the treasurer for the Democratic Party and the auditor for the authority, raided the reserves repeatedly and left the agency $2.4 million in the hole when he was dismissed in 1982 by the new Republican administration.

Democrat Auditor Was Jailed Following Embezzlement At Ocean Gate

Haluska later paid back some of the money he chiseled out of the DMUA, but went to jail later for stealing money from the borough of Ocean Gate.

Larsen wants to wipe out the entire bank account of one public entity (the DMUA) for the purpose of temporarily bailing out another public entity (the Township) that has been living far beyond its means and is now operating at a huge de facto deficit.

Larsen Financial Disaster Would Be The Sixth And Worst Since 1980

A by-product of the mess Mr. Larsen’s modest proposal would create would be the largest school tax increase, the largest municipal tax increase and the largest sewer rate increase in the history of the township.

Cumulatively and historically, this would no doubt become known as the “Larsen Financial Disaster”, the sixth and by far the worst financial disaster in Dover Township since 1980.

Click Here For Article On Dover Township Budget
And The Huge Spending Increase

More on this important story coming to OceanCountyPolitics•Com.

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