If I understand your question, the feds had the case first and decided not to prosecute, but the State of New Jersey does want to prosecute. The state is bound by the statute of lmitations -- five years--calculated from the date of the offense.
Under 18 USC § 3282 a Grand Jury must issue a Federal indictment within five (5) years after the defendant committed the offense. But for conspiracy, the time does not start until: 1) the conspiracy ends, 2) a participant’s last open act furtherance of the conspiracy, or 3) the defendant’s withdrawal from the conspiracy before the objective is attained.
NJ can charge you for an offense committed in NJ within the SOL. I suggest strongly retaining an experienced criminal defense attorney to assure all positive evidence is presented to the prosecutor before the GJ.
Even if you did nothing wrong you should get an attorney involved right away. The statute of limitations on fraud begins with the discovery of the fraud. Especially if crimes occurred in more than one state, the decision of one state to not pursue charges is not binding on another state.
This general legal advice does not create an attorney-client relationship. Every case is individual and to have legal advice that you can rely on you need to talk to an attorney one on one, answer their questions, and hire them.
I concur with my Avvo colleagues. Consult and retain an experienced federal criminal defense lawyer ASAP.
Of course, every answer is based on the question asked and requires a complete context. This answer should NOT be relied upon to make any legal decisions. Seek the advice of an experienced criminal defense attorney in YOUR JURISDICTION -BEFORE you do or say anything. Law Offices of Raymond G. Wigell, Ltd. Admitted in Illinois and Federal District Courts in Illinois(Northern, Central and Southern Districts) and Indiana(Northern District), Defenders of the Constitution since 1975; Aggressive Creative Defense Strategies. Website: www.waaltd.com Email: firstname.lastname@example.org Available - 24/7 Office (708)481-4800 Cell. (708)218-0923