Last night, at the regular Ramapo Town Board meeting, acting Supervisor Yitzchok Ullman and the Town Board removed the last vestiges of Christopher St. Lawrence’s influence in the shadow government that he had operated for years out of the Ramapo Local Development Corporation (RLDC). [Read more…]
You would think that as fast as St. Lawrence and his attorney were pedaling in the courtroom in White Plains, trying to outrun the 22 felony charges from the Dept of Justice, that he wouldn’t have time to continue to siphon public money to his bankrupt RLDC. So much for common sense. While St. Lawrence and his attorney, Michael Burke, were looking over perspective jurors, his corrupt machine was still still cranking up the giant sucking sound at Town Hall on Route 59, vacuuming millions in public assets. At the other end of the pipe, almost six million was blowing in at the RLDC office over at the ballpark. [Read more…]
Imagine this. Four guys break into your house, and lug out as much as they can carry. But not too long after, they are caught, and you’re feeling a little better because they’re all charged with multiple crimes.
Then, a short time after, you get a registered letter from the gang’s law firm informing you that the attorneys for these losers will be forwarding to you all the billable hours incurred in the effort to defend the four derelicts that robbed you. The tone of the letter is professional and polite, and the lawyers even offer the reassurance that you shouldn’t worry, this won’t cost you more than $150,000, that is, for the first year’s work. [Read more…]
“Aaron Troodler, the former executive director of the Ramapo Local Development Corporation, pleaded guilty Tuesday to charges he conspired with Ramapo Town Supervisor Christopher St. Lawrence in a corruption scheme involving the financing of the town’s baseball stadium and other projects.
Troodler, 42, admitted to committing securities fraud as a part of a scheme to defraud investors in municipal bonds issued by the RLDC and the town, U.S. Attorney Preet Bharara said. [Read more…]
Press Release from the SEC — Washington, DC Oct. 31, 2016
Firm and Partner Charges with Issuing Fraudulent Audit Reports
The Securities and Exchange Commission today announced that a New York-based audit firm and a senior partner agreed to settle charges that they issued fraudulent audit reports in connection with municipal bond offerings by the town of Ramapo, N.Y., and its local development corporation. The SEC’s order finds that PKF O’Connor Davies and Domenick F. Consolo allowed Ramapo to record a $3.08 million receivable in its general fund for a property sale that Consolo knew had not occurred. [Read more…]
Letter to The Journal News from NYS Comptroller
Given the turn of events in the Town of Ramapo related to the questionable financing of a minor league baseball stadium, is there any doubt New York’s local development corporations need more oversight?
Commonly known as LDCs, these entities are private, not-for-profit corporations often created by, or for the benefit of, New York’s counties, cities, towns and villages to spur economic growth or serve other public purposes. In many cases, LDCs are used for economic development such as rehabilitating industrial plants or encouraging businesses to locate or stay in a particular region. [Read more…]
The Town Board on Thursday unanimously approved transferring 25 wooded acres at 301 Pomona Road to its Local Development Corporation for commercial and/or mixed use.
The land is located in the Village of New Hempstead, which would have to grant all zoning, environmental and building approvals. Town Board member Pat Withers said the RLDC has had informal discussions with New Hempstead and with potential private developers who expressed interest in the site, including Hilton. [Read more…]