Investor Losses Revised Down in CSL Pre-Sentencing Hearing

Investor losses were revised downward at yesterday’s pre-sentencing hearing for former Ramapo Supervisor Chris St. Lawrence. The hearing is being held specifically to determine the extent of financial losses incurred by investors who bought the town’s bonds, and could therefore impact the sentence St. Lawrence gets. The Journal News reported that the prosecution witness, a municipal securities specialist from the SEC, said investor losses are now projected to be about one million dollars, down from the 5.8 million dollars it was estimated at in January. The judge also indicated she will be considering the many letters she has received from residents about the case. St. Lawrence’s attorneys are looking for a sentence of probation, while prosecutors are asking for up to 14 years in prison. St. Lawrence was found guilty last May on 20 counts of fraud and conspiracy. Testimony will continue December 11th with a defense fraud-loss expert. If testimony wraps up, St. Lawrence could be sentenced that day.

Snow Closings Updated Regularly

Please click on the image below to view all snow closings for Rockland County.