June 11, 2018

Ne York announced that former Judge Richard Sherwood has pleaded guilty to running a scheme that looted more than $11 million from trusts he oversaw. For nearly a decade, Sherwood and his co-conspirator, Thomas Lagan, allegedly pilfered millions in funds from charitable trusts they managed. Sherwood faces up to ten years in prison. As part of the plea, Sherwood forfeited $3,742,211.65 in previously seized funds, as well as a residence that previously belonged to two of his victims. Sherwood also pleaded guilty to separate federal charges for money laundering and tax fraud. NY

Tagged in: Financial and Investment Fraud,