St. Lawrence Resigns Chairmanship of County Boards

Ramapo Supervisor Christopher St. Lawrence, under investigation by the FBI and the SEC, has resigned his posts as chairman of two Rockland County boards.

The criminal and civil charges allege that he and other town officials lied to investors buying the Town’s and Ramapo Local Development Corporation’s bonds -- in order to conceal both the deteriorating state of the town's finances and the inability of the RLDC to make scheduled payments of principal and interest to its bondholders from its own money. They lied primarily by making up false assets to make financial reports look good.

SEE:

• SEC Charges 4 in Ramapo; Seeks Financial Penalties, Court Orders
• Prosecutors: Town Officials Sold $150M in Bonds Based on Lies
• Reaction to Ramapo Indictments: Calls for Review, Reform, Resignation

After St. Lawrence's arrest last week, Rockland County Executive Ed Day called for him to step down from two other positions of authority he holds in the county: chairman of the Rockland County Sewer District No. 1 and chairman of the Rockland County Solid Waste Authority.

He did so yesterday.

“I am relieved that Supervisor St. Lawrence moved quickly and did the right thing for the taxpayers of Rockland County," Day said in a written statement. "Given the allegations against him, as a practical matter he could no longer lead these two boards, which issue millions in municipal bonds. Stepping down was the only thing he could do until the criminal charges against him are settled. We understand that Mr. St. Lawrence will remain a member of both boards. Leadership of both boards will be decided by the respective agencies going forward.”