Fisher Criticizes Russo’s Developer-Funded Campaign, Calls for ELEC Investigation

• Over 60% of contributions come from developers, landlords, and construction companies
• Rises to 72% when combined with special interest donors
• His largest donor, Hoboken’s biggest landlord, contributed more than $90,000
• Includes multiple property owners who were behind the referendum to weaken Hoboken's rent control laws
• Another large donor — a city vendor and developer — profited $300,000 from flipping a property to the city with Russo’s support

“You can support responsible growth and still represent your community." said Fisher. "But it’s hard to believe residents are the priority when the majority of your campaign money comes from people with business before the city.”

Russo’s ties to developer interests stretch back at least to 2009, when he was recorded on video agreeing to accept a campaign contribution from an individual posing as a developer — who turned out to be FBI informant Solomon Dwek, the same informant who took down Hoboken Mayor Peter Cammarano that year for accepting a bribe. Two of Russo’s current donors have also been linked to corruption scandals, including one who was convicted and served prison time for his involvement in the same Dwek bribery investigation.

At a time when a former high-ranking Hoboken city official was sentenced to prison for embezzlement, Fisher says the city can’t afford to ignore the warning signs of ongoing political self-dealing.

A week ago, Fisher filed a formal request for investigation with the New Jersey Election Law Enforcement Commission (ELEC), citing potential violations of campaign finance laws in how Russo, in his run for Mayor, is using multiple committees to sidestep legal contribution limits - and potentially misusing campaign funds. Several of his donors have exceeded those limits, including many connected to his top donor, Hoboken’s largest landlord.

“I truly believe how you campaign reflects how you govern,” Fisher said. “But this goes beyond campaign finance — it’s about a culture of self-interest and backroom politics that has too often put the needs of residents last.”

Fisher said this is transactional politics - plain and simple - and that the stakes in this election couldn’t be clearer: “Hoboken has a choice: keep accepting the backroom deals and special interests that have failed us for too long, or choose a different path. I’m running to be a different kind of mayor — one who puts residents first, dismantles the culture of corruption, and delivers the leadership our city deserves.”