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Cooperstown developer, Town justice charged with stealing $4M from trusts

Authorities say a Cooperstown developer and Albany area town justice is charged with stealing more than $4 million from the family trusts of three sisters.

Posted: Feb 23, 2018 9:13 PM

ALBANY, N.Y. (AP) - Authorities say a Cooperstown developer and Albany area town justice is charged with stealing more than $4 million from the family trusts of three sisters.

New York Attorney General Eric Schneiderman says Thomas Lagan, 59 was arrested Friday on charges including grand larceny and scheme to defraud.

Richard Sherwood, 57, an Albany area attorney, was also arrested in connection with the crime.

Authorities say the men were business associates who devised a scheme to steal from trusts set up by local philanthropists Warren and Pauline Bruggeman. Schneiderman says the thefts also targeted trusts for Pauline Bruggeman's two sisters.

Sherwood is a former Guilderland town attorney who has served as town justice since 2013. Lagan is a lawyer and financial adviser.

Sherwood pleaded not guilty and was released. His lawyer isn't commenting on the charges. A message left with Lagan's lawyer wasn't returned.

(Copyright 2018 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

(WKTV staff contributed to this article)

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