Prosecutor ends probe of New Jersey Sen. Torricelli's finances

NEW YORK (AP) -- The investigation of the finances of New Jersey's Sen. Robert Torricelli has ended and no charges will be filed, outgoing U.S. Attorney Mary Jo White announced Thursday.

In a one-page statement, White said she had reached the decision after "an exhaustive investigation" by her office, the FBI, the Internal Revenue Service and the U.S. Customs Service.

The U.S. attorney's office in Manhattan "has referred information developed in the course of the investigation to the Ethics Committee of the United States Senate," the statement said.

Deputy Attorney General Larry Thompson said he was satisfied with White's decision.

Torricelli had been suspected of taking illegal gifts and cash from a donor, David Chang.

The New Jersey Democrat has repeatedly insisted he did nothing out of the ordinary to assist Chang, whose accusations were central to the federal investigation.

Chang pleaded guilty to making $53,700 in illegal donations to Torricelli's 1996 Senate campaign and agreed last year to work with investigators. He has told prosecutors that the senator accepted gifts in return for intervening in Chang's business deals in North and South Korea.

Torricelli has said he never did anything illegal in his five-year relationship with Chang, and denied taking any illegal gifts.