According to officials the U.S. Securities and Exchange Commission visited Ramapo on May 21 and requested subpoenas for records on the town, Supervisor Christopher St.Lawrence, the LDC and their many projects including the $60 million baseball stadium and a housing development, and the town’s Financial Advisor and Auditor. According to records a federal grand jury has been reviewing financial reports and the FBI is also reviewing records from their raid on the town a year ago, after the U.S. Attorney’s Office subpoenaed records for the town’s deals with what used to be Provident Bank, and are looking into whether or not town officials overstated assets. St.Lawrence stated the town and all officials are working with the SEC to provide them with all necessary information.
SEC Investigating Ramapo
July 21, 2014 By