Former Albany-Area Judge Pleads Guilty to Scamming Millions From Estate

[laserhaas]

Source: NY Law Journal

Link to tweet

.
A former Capital Region town justice and lawyer pleaded guilty on Monday to working with a financial adviser to bilk about $11.8 million from trust funds that they were responsible for overseeing.

Former Town of Guilderland Justice Richard Sherwood agreed to resign from the bench in April, pleaded guilty to federal money laundering and tax crime charges and a state charge second-degree grand larceny, a class C felony, according to news releases from the New York Attorney General’s Office and the U.S. Attorney’s Office for the Northern District of New York.

He faces between three and 10 years in prison on the state charge and up to 20 years in prison on the federal charges, the releases stated.

Read more: https://www.law.com/newyorklawjournal/2018/06/11/former-albany-area-judge-pleads-guilty-to-scamming-millions-from-estate/

[bucolic_frolic]

1. $11.8 million? Go Big or Go Home!

Glad he wasn't after petty cash. Would be a shame if he got off lightly.

All this society focuses on is money. I suppose it gives some freedom is you're solvent. Greed, though, is the root of much evil. Acquisitiveness. Get more stuff!

Trust funds are a cookie jar. Even where the fiduciaries are honest and execute the terms of the trust well, there is little supervision on where the money actually goes because there is no enforcement, and vague goals are broadened. Disbursements leak.

[marble falls]

2. Much better link.....

http://www.fresnobee.com/news/business/article212956554.html

[FakeNoose]

3. Better link to same story in the Albany Times-Union

https://www.timesunion.com/news/article/Ex-judge-at-center-of-4M-trust-scheme-pleads-12984158.php

Sherwood and his law partner were both in on the scheme.