The indictment unsealed today with the arrest of Ramapo Supervisor Christopher St. Lawrence also named Aaron Troodler who was the Executive Director of the Ramapo Local Development Corp (RLDC) and former Assistant Town Attorney for Ramapo.
The US Attorney of the Southern District of NY also announced:
There will be a press conference today at 11:00 a.m. to announce charges against Christopher St. Lawrence, the Supervisor of the Town of Ramapo, New York, and highest ranking public official in Ramapo, and N. Aaron Troodler, the former Executive Director of the Ramapo Local Development Corporation with securities fraud, wire fraud, and conspiracy in connection with municipal bonds. This is believed to be the first municipal bond-related securities fraud prosecution ever. Preet Bharara will present the charges at 11:00 am at 1 St Andrew’s Plaza in New York City.