Prosecutors probe whether corrupt banking exec gave 'gold bars' to Robert Menendez

Fred Daibes, a New Jersey-based developer and former banking exec, has faced a long list of federal bank fraud charges. And according to NBC News New York, federal prosecutors are now probing Daibes' connection to Sen. Bob Menendez (D-New Jersey)

Jonathan Dienst, Courtney Copenhagen and Tom Winter of NBC News New York report that federal investigators are "looking into whether" Daibes "helped arrange to give gold bars worth hundreds of thousands of dollars to" Menendez or his wife Nadine Arslanian."

"Sources familiar with the matter say federal prosecutors have been asking if Menendez offered to help support Daibes with his criminal case by contacting Justice Department officials about the case," the reporters explain. "If the senator did offer to act in exchange for expensive gifts, legal experts say that could be a crime."

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The journalists note that Daibes was facing "more than a dozen counts of bank fraud for lying about a $1.8 million loan from Mariner's Bank where he served as chairman."

According to Danny Cevallos, legal analyst for NBC News, "For purposes of the Federal Extortion Act, it makes no difference if the senator took an official act so long as he accepted the money and there was knowledge the money was in exchange for that official influence, even if he never carried out what he had promised he would do."

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Read NBC News New York's full report at this link.