CSL Sentence: 2.5 Yrs Prison, $75K Fine, 3 Yrs Supervised Release

Two and half years in prison. A fine of $75,000. And three years of supervised release. That’s what former Ramapo supervisor Chris St. Lawrence was handed by a federal judge yesterday afternoon for his fraud conviction stemming from the financing of the Boulders’ baseball stadium. It was the first conviction for securities fraud in connection with municipal bonds. Acting U.S. Attorney Joon Kim said, “For years, St. Lawrence misled investors about the state of Ramapo’s finances. The integrity of the $3.7 trillion municipal bond market must be protected, and prosecutions like this one should put on all on notice that fraud and deception will lead to jail.” Before the sentencing, a “Morning Show” caller said ultimately, it’s the town’s residents who have suffered…

Audio: Caller

Rockland County Executive Ed Day said he hopes this “closes a sad chapter in Ramapo.” St. Lawrence was found guilty last May of fraud and conspiracy. Sentencing for former Ramapo assistant town attorney Aaron Troodler, who testified against St. Lawrence, is set for January second. St. Lawrence is scheduled to report to prison March 15.

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