March 08, 2017 – Suffern, NY – As the Mayor of the Village of Suffern and a Ramapo Taxpayer, I demand the
immediate resignation or termination of Michael L. Klein, Esq, as Town Attorney and Nathan Oberman, as Town of Ramapo Receiver of Taxes and Deputy Director of Finance.
I previously called for the resignation of Town Supervisor, Christopher St. Lawrence on April 21, 2016, without any response. This call was based on the arrest of Mr. St. Lawrence on 22 counts of federal securities fraud, wire fraud and conspiracy charges. These charges stemmed from the alleged sale of $150,000,000 in municipal bonds based on inflated town financial documents.
Today, I demand the immediate resignation of Michael L. Klein, Esq, Town Attorney and Nathan Oberman, Town of Ramapo Receiver of Taxes and Deputy Director of Finance. This demand is based on SEC’s complaint charges Ramapo, RLDC, St. Lawrence, Troodler, Klein, and Oberman with violations of Section 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5. St. Lawrence and Troodler were also are charged with liability under Section 20(a) of the Exchange Act as controlling persons for the violations by the town and RLDC. All four town officials are charged with aiding and abetting violations by the town and RLDC. In addition, yesterday’s guilty plea entered by N. Aaron Troodler, the former Executive Director of the Ramapo Local Development Corporation
(“RLDC”) has made it increasingly likely that he will testify against Mr. St. Lawrence, Mr. Klein and Mr. Oberman.
Troodler pled guilty yesterday before U.S. District Judge Cathy Seibel to conspiring with Ramapo Town Supervisor Christopher St. Lawrence to commit securities fraud as a result of a scheme to defraud investors in municipal bonds issued by the RLDC and the Town of Ramapo (the “Town”).
If this demand is not met, I then call on the Supervisor of the Town of Ramapo and Ramapo Town Council to immediately remove Michael L. Klein, Esq, as Town Attorney and Nathan Oberman, as Town of Ramapo Receiver of Taxes and Deputy Director of Finance.
It is not in the best interest of the Town of Ramapo or the Village of Suffern to have Michael L. Klein, Esq, Town Attorney and Nathan Oberman, Town of Ramapo Receiver of Taxes and Deputy Director of Finance to remain in their official capacity given the outstanding charges against them and yesterday’s guilty plea entered by N. Aaron Troodler. I have bi-partisan support of this request and I urge the Town Council to remove them if they do not heed this request.
Regardless of party affiliation we should unite in restoring trust and good governance in the Town of Ramapo. The time has come to compel their removal from office.
The Village of Suffern and the Town of Ramapo residents deserve better!
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