Posted On:
November 14, 2008
Latham Man Pleads Guilty to Violating New York's Martin Act
Roger Shearer –of Latham, New York- pled guilty today in Albany County Court to violating the Martin Act. Shearer violated the Martin Act by taking forty-five thousand dollars from investors to buy and rehab a building on the Troy riverfront with no intention of ever doing the project. The sham project was called Gateway Commons. A violation of the Martin Act is a Class E felony. Mr. Shearer is scheduled to be sentenced on December 18, 2008. Mr. Shearer has agreed to pay the investors back in full. The case was prosecuted by the New York State Attorney General’s office.
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