St. Lawrence Resigns from Two Boards

RAMAPO – Town Supervisor, Christopher St. Lawrence has resigned as chairman of both Rockland’s sewer and solid waste authorities. The resignation follows last week’s announcement by US Attorney for the Southern District, Preet Bharara that the Securities and Exchange Commission, after a three-year investigation of the town’s books, was filing an indictment against St. Lawrence, and one time assistant town attorney, Aaron Troodler. It has been alleged that the two men lied to investors buying the Town’s and Ramapo Land Development Corporation’s bonds. The indictment accuses them of hiding the true state of the town’s finances and RLDC’s ability to make scheduled payments of principal and interest to it’s bondholders from it’s own financial resources. Last week the men were arrested, pleaded not guilty, posted $500,000 bail and were released pending trial. St. Lawrence will continue to sit on the boards. Rockland County Executive Ed 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.” He continued, “Leadership of both boards will be decided by the respective agencies going forward.”

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