Richard Sherwood
Town justice for Guilderland, New York, Richard Sherwood, was suspended with pay effective immediately, from his position by the New York State Court of Appeals after he was arrested on felony grand larceny charges. Sherwood was arrested last week for allegedly stealing $4 million from a trust he was charged with overseeing. As Law.com reports:
Last week, New York Attorney General Eric Schneiderman’s office announced the arrest of Sherwood and financial adviser Thomas Lagan, both of whom are lawyers, for “orchestrating a complex scheme to steal millions from a trust they were overseeing.”
The felony complaint charged Sherwood with two counts of grand larceny, one count of scheme to defraud in the first degree and two counts of criminal possession of stolen property in the first degree.
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Sherwood was elected to the bench in 2013. Prior to that he was an attorney for the town of Guilderland for 14 years.
According to the complaint, Sherwood and Lagan pilfered money from a family trust under the guise the money would be sent to charity. It also alleges the pair created their own trust, the Empire Capital Trust, with the stolen money to benefit themselves.
Kathryn Rubino is an editor at Above the Law. AtL tipsters are the best, so please connect with her. Feel free to email her with any tips, questions, or comments and follow her on Twitter (@Kathryn1).