ROCKLAND COUNTY, N.Y. -- Ex-Ramapo Supervisor Christopher St. Lawrence, 65, could face up to 14 years in prison during his sentencing on 20 counts of securities fraud, wire fraud, and conspiracy.
The sentencing, scheduled for Monday in front of U.S. Judge Cathy Seibel, in U.S District Court in White Plains, could also settle several disagreements between the opposing sides on the reasons why St. Lawrence committed fraud and how much prison time he should receive.
In an effort to delay sentencing until December, St. Lawrence's lead attorney, Michael Burke, filed court papers on Wednesday for time to review the prosecution's updated estimation of the loss suffered by investors who bought Ramapo bonds because of fraudulent information provided by St. Lawrence.
The U.S. Attorney's Office has asked for sentencing to proceed, arguing in court that the losses have been correctly figured.
His conviction was a first for securities fraud in connection with municipal bonds.
The case centered on St. Lawrence's rigging of the town's financial books in order to receive lower rates on bonds to finance a $58 million baseball stadium in Pomona, a housing complex on Elm Street, and other town projects through the Ramapo Local Development Corp.
If sentencing moves forward, St. Lawrence, of Wesley Hills, faces anywhere from probation as suggested by Burke in a 32-page memo, to the 14 years in prison as suggested by the U.S. Attorney, to two to 2 1/2 years in prison as recommended by federal probation officials.
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