ALBANY, N.Y. — A suburban Albany town justice has been suspended after being charged with stealing more than $4 million from the family trusts of three sisters.
The New York Court of Appeals suspended 57-year-old Richard Sherwood on Tuesday. Sherwood and 59-year-old Thomas Lagan were arrested Friday on charges including grand larceny and scheme to defraud.
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.