NY Town Supervisor Verdict in Stadium Fraud Case

WHITE PLAINS, NY — The tale of a baseball stadium voters didn't want but officials did reached a climax Friday when jurors in Ramapo Town Supervisor Christopher St. Lawrence's trial for securities fraud found him guilty on all but two counts. St. Lawrence was visibly stunned as the verdict was read, The Journal News reported.

St. Lawrence's attorney told TJN said Friday he would appeal. Read the entire report on lohud.com.

St. Lawrence had been indicted on 22 federal charges accusing him of cooking the town's books to hide financial problems. He was charged with securities fraud, wire fraud, and conspiracy in connection with municipal bonds issued by the Town and by the Ramapo Local Development Corporation. The case is believed to be the first ever with municipal bond-related criminal securities fraud charges against public officials.

Reaction in Rockland was swift.

Rockland County Executive Ed Day said his administration would support every effort to restore integrity to Ramapo.

"Holding public office is a privilege," said Day. "Any public official found guilty of breaking the law has violated that sacred public trust.The conclusion of this jury that the Ramapo Supervisor broke the law is a stain on the town and all of Rockland County. "

One of St. Lawrence's co-conspirators, the former executive director of the Ramapo Local Development Corporation pleaded guilty in March to conspiracy to commit securities fraud with the Ramapo Town Supervisor.

Aaron Troodler was also the town's assistant town attorney when he and St. Lawrence are alleged to have have devised a complex securities fraud scheme so they could hide public funds being used for the construction of a stadium and other projects.

Prosecutors said they lied to investors buying the Town’s and RLDC’s bonds —in order to conceal both the inability of the RLDC to make scheduled payments of principal and interest to its bondholders from its own money and the deteriorating state of the Town’s finances.

The RDLC, created and owned by the town, had one disastrous investment — Provident Bank Park (now Palisades Credit Union Park). And it had one major contribution to cooking the books involving a property known as The Hamlets.

Also noteworthy: The Journal News story about the legal troubles of 15 Rockland officials, most of whom are from Ramapo.

SEE ALSO:

• Ruling on Takeover of Spring Valley Democratic Committee
• Ramapo Town Supervisor Verdict in Fraud and Conspiracy Case
• Plea in Ramapo Development Agency Fraud Case
• St. Lawrence Resigns Chairmanship of County Boards
• Reaction to Ramapo Indictments: Calls for Review, Reform
• Senate Passes Legislation to Fight Illegal Housing in Ramapo
• Rockland Throws Down the Gauntlet to Ramapo, other Rockland Developers
• Town Supervisor Stadium Fraud Verdict: Officials, Prosecutors Respond
• Ramapo Demands Outsize Payments from School Districts
• FBI Raids New City Test Lab
• FBI in Spring Valley Again
• Desmaret Sentenced in Spring Valley Bribery Scheme
• “Corridor of Corruption” Scandal Nets Another Guilty Plea
• Spring Valley Building Inspector, Businessman Indicted
• SEC Charges 4 in Ramapo; Seeks Financial Penalties, Court
• Ramapo Planning Director Indicted
• State Slaps Ramapo on Private-school Fire Inspections
• Firefighters, Officials Call for State to Intervene in Ramapo, Spring Valley Code Enforcement
• Tress Resigns from Ramapo Town Board as Part of Plea Bargain
• East Ramapo Trustee Accused of Using Fake In-District Address
• County, Suffern Officials Dislike Ramapo's Legoland Plan
• Director Takes Plea in Ramapo Development Agency Fraud Case