Former North Salem Supervisor Paul Greenwood, who resigned from office in early 2009 after being arrested on securities fraud charges stemming from his investment businesses, will be sentenced on Dec. 3.
The sentencing was postponed from Nov. 20 after Greenwood’s business partner, Stephen Walsh of Long Island, appeared for sentencing and heard from the judge he was likely to get 20 years. Walsh also asked for a delay to consider whether to try to withdraw his guilty plea.
But in a letter to federal Judge Miriam Goldman Cedarbaum Nov. 4, Walsh’s lawyer said he will not move to withdraw his guilty plea. The lawyer, Michael Tremonte, did ask the judge to hear further argument on the appropriateness of the sentence.
Walsh and Greenwood, who has since moved to North Carolina, were accused of stealing tens of millions of dollars from their investment clients and lying to hide the thefts and the losses from unprofitable investments. Greenwood pleaded guilty to all six counts and agreed to cooperate with the government. Walsh pleaded guilty earlier this year to one count.