Securities Fraud and Christopher St. Lawrence

 

Ramapo town supervisor, former chief of LDC, charged with securities fraud

April 14, 2016

“NEW YORK – Ramapo Town Supervisor Christopher St. Lawrence and N. Aaron Troodler, the former executive director of the Ramapo Local Development Corporation, were indicted with 22 counts of securities fraud, wire fraud, and conspiracy in connection with municipal bonds issued by the town and by the Rockland LDC.

The indictment was unsealed on Thursday.

US Attorney Preet Bharara said his office has brought what is believed to be the first ever municipal bond-related criminal securities fraud charges against public officials. “As alleged, Christopher St. Lawrence and N. Aaron Troodler kicked truth and transparency to the curb, selling over $150 million of municipal bonds on fabricated financials,” Bharara said. “I doing so, they defrauded both the citizens of Ramapo and thousands of municipal bond investors around the country.”

FBI Assistant Director-in-Charge Diego Rodriguez said the men “allegedly engaged in a complex securities fraud scheme so they could hide public funds being used for the construction of a stadium and other projects.” He said the activity allegedly continued even after they became aware of the town and the corporation tasked with development initiatives were subjects of a federal investigation.””

 

Read full article from midhudsonnews.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s