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Can this be false arrest and imprisonment?
No, it would be considered as malicious prosecution if you are found to be not guilty.
An action at law for malicious prosecution based upon a prior criminal
judicial proceeding consists of several elements.
First. The plaintiff must establish the existence of a criminal judicial proceeding against him/her. On this subject the (undisputed) facts are (state the nature of the criminal charge instituted against the plaintiff, the name of the judicial tribunal in which it was instituted, etc.)
Second. The plaintiff must establish that the defendant was responsible for or caused that proceeding to be instituted against him/her.
On this subject the (undisputed) facts are (state what the defendant did to initiate the criminal judicial proceeding against the plaintiff such as signing a complaint
Third. The plaintiff must establish that the criminal proceeding terminated favorably to him/her or in a manner not adverse to him/her.http://www.judiciary.state.nj.us/civil/charges/3.12.pdf
You can sue Party B for your damages. As to the indictment, that can take some time.
You do have a right to a speedy trial
in NJ. The factors are
The factors balanced include: (1) the length of the delay, (2) the reasons for the delay, (3) any assertion by the accused of speedy trial rights, and (4) any prejudice to the accused from the delay. N.J.S.A. 39:4-50. State v. Gallegan, 117 N.J. 345 (1989). You can have your attorney assert your right to a speedy trial.