On May 19, 2017, a federal jury found Christopher St. Lawrence, former Ramapo Town Supervisor, guilty of 20 counts of securities fraud and wire fraud in connection with  municipal bonds issued by the Ramapo Local Development Corporation (“RLDC”) and the Town of Ramapo.  According to the charging documents, in order to cover up the deteriorating state of the Town’s finances and the inability of RLDC to make scheduled interest and principal payments, St. Lawrence lied to investors in the Town of Ramapo’s and RLDC’s bonds.  The federal jury acquitted St. Lawrence of one count of securities fraud and one count of wire fraud. United States v. St. Lawrence, 7:16-cr-00259 (S.D.N.Y).

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