Subscriber login

Welcome to our new site. You will need to reset your password if this is your first time logging in. Please click here to reset your password.
The locally owned voice of the capital region
School Closings
Academy at Rensselaer Education Ctr: Delayed 2 HrsAcademy of the Holy Names: Delayed 2 HrsAchievements & Kids Express Mplwood: Delayed 2 Hrs, no before careAchievements St Kateri Tekakwitha: Delayed 2 HrsAchievements and Kids Express TBGC: Delayed 2 HrsAdirondack Enrichment: Delayed Until 12:30pAesthetic Science Institute: Delayed 2 Hrs, Classes begin at 11 amAlbany Leadership Charter High: Delayed 2 HrsAmbleside School: ClosedAmsterdam City SD: Delayed 2 Hrs, No AM Pre-K, No AM BOCES, No BreakfastAmsterdam Head Start: Delayed 2 Hrs, Staff ReportAn Nur Islamic School: Delayed 2 HrsAndes CSD: Delayed 2 HrsArgyle CSD: Delayed 2 HrsArkville Head Start: ClosedAugustine Classical Academy: ClosedAustin's School of Spa Technology: Delayed 2 Hrs, Staff ReportAverill Park CSD: Delayed 2 Hrs, No AM BOCESAverill Park Pre School: Delayed 3 Hrs, No AM Pre-School, No AM PgmBallston Spa CSD: Delayed 2 HrsBattenkill Community Services: Closed, Hockey game still on, will call with timesBennington County Meals: Open, Home delivery delayed Cafe openBerkshire Country Day School: Delayed 2 HrsBerlin CSD: Delayed 2 HrsBerne-Knox-Westerlo CSD: Closed, Offices are closed.Best Fitness (Schenectady): Delayed, No Morning Classes, Club Open No morning classes classes resume 430pBethlehem CSD: Delayed 2 Hrs, No AM BOCESBethlehem Children's School: Delayed 2 HrsBishop Maginn HS: Delayed 2 HrsBluebirds' Nest Preschool: ClosedBroadalbin-Perth CSD: Delayed 2 Hrs, No AM Pre-K, No AM BOCES, No Breakfast, No PTECH, AgTECH, TEC-SMARTBrown School: Delayed 2 Hrs, No Morning PLUS ProgramBrunswick (Brittonkill) CSD: Delayed 2 HrsBrunswick Children's Academy: Delayed 2 HrsBurnt Hills-Ballston Lake CSD: Delayed 2 Hrs, No AM BOCES, 2-hour delay (final)Butterfly Dreams Daycare: Delayed 2 Hrs, Opening at 9:30 amCOARC Adult Transportation: Delayed 2 HrsCairo-Durham CSD: ClosedCalvary Preschool: ClosedCanajoharie CSD: Closed, No PM ActivitiesCapital Reg Career & Tech (Albany): Delayed 2 Hrs, No AM BOCESCatholic Central HS: Delayed 2 HrsCatholic Schools Office: Delayed 2 Hrs, Principals Meeting at 10:30Catskill CSD: Delayed 2 Hrs, No AM Pre-KCatskill Mt. Christian Academy: ClosedCenter For Early Learning: ClosedChatham CSD: Delayed 2 HrsChatham Kids Club: Delayed 2 Hrs, Open at 8:30Childhood Friends Inc.: Delayed, We will open at 9:00am for All children today!Christ Our Light Catholic Church: Delayed 2 Hrs, Office opening & Adoration delayed 2 hrs. Morning services cancelledChrist the King Early Childhood Ctr: Delayed 2 Hrs, All programs open @ 9:30 AMChristian Brothers Academy: ClosedCircle Of Friends (Delmar): Delayed 2 Hrs, Wrap around delayed 2 hoursCircle of Friends (Ravena): Delayed 2 Hrs, 2.5 hour class is closed 5 hour classes delayedClifton Park Nursery School: Delayed 1 HrCobleskill Campus Child Care Center: Delayed 2 Hrs, Open at 9AMCobleskill-Richmondville CSD: Closed, Offices Open at 9 a.m.Cohoes City SD: Delayed 2 HrsColonie Youth Centers: Open, No BSPColumbia Christian Academy: Delayed 2 HrsCommunity Library Cobleskill, NY: ClosedCooperstown CSD: Delayed 2 Hrs, No AM BOCESCorinth CSD: Delayed 2 Hrs, No BreakfastCoxsackie-Athens CSD: Delayed 2 Hrs, No AM BOCES, No BreakfastCrossFit Schenectady: Delayed, No Morning ClassesCrossroads Center for Children: Delayed 2 Hrs, Day Care open @ 9:00Crown Point CSD: Delayed 2 HrsDay Nursery (S Glens Falls): Delayed Until 12:35pDelaware Academy CSD at Delhi: Delayed 2 HrsDoane Stuart School: Delayed 2 HrsDolgeville CSD: Closed, No AM BOCES, No BreakfastDoors of Hope: Delayed 1 HrDuanesburg CSD: ClosedEarly Childhood Learning Ctr: Delayed 2 HrsEarly Childhood Education Center: Delayed 2 HrsEarly Childhood Education Ctr-Troy: Delayed 2 HrsEast Greenbush CSD: Delayed 2 HrsEco Baby Daycare & Preschool: Delayed 2 HrsEdinburg Common SD: Delayed 2 HrsExecutive Woods Childcare: Delayed 2 HrsFaith Bible Academy: Delayed 2 HrsFirst Friends Nursery School: Delayed, No AM Program, Enrichment program begins at 1130amFonda-Fultonville CSD: ClosedFort Plain CSD: Closed, Elem recognition breakfast moved to ThursdayFranklin County Technical SD: Delayed 2 HrsFulmont St Johnsville Head Start: Delayed 2 Hrs, Staff ReportFulton County Office for Aging: Open, No Transportation, No Social Adult Day Care No Home Delivered Meals Meal Sites ClosedFulton-Montgomery CC: Delayed 2 Hrs, Campus will open at 10 am.Gabriel Abbott Memorial School: Delayed 2 Hrs, No morning daycareGalway CSD: Delayed 2 HrsGeorge Washington School: Delayed 2 HrsGermantown CSD: Delayed 2 HrsGilboa-Conesville CSD: ClosedGlens Falls City SD: Delayed 2 Hrs, No AM Pre-K, No AM BOCESGlens Falls Common SD: Delayed 2 Hrs, No BreakfastGlens Falls Head Start Center: Delayed 2 HrsGloversville City SD: Delayed 2 HrsGood Ground Christian School: Delayed, No AM Pre-K, Afterschool program onlyGrapeville Christian School: ClosedGreen Island UFSD: Delayed 2 Hrs, No BreakfastGreen Tech High Charter School: Delayed 2 HrsGreenberg Child Care Center: Delayed Until 9:30aGreenbush Child Caring: Open, No AM ProgramGreene County YMCA: Open, No Morning ClassesGreenfield Public Schools: Delayed 2 Hrs, No AM Pre-KGreenville CSD: ClosedGreenwich CSD: Delayed 2 Hrs, No AM BOCESGuilderland CSD: Delayed 2 Hrs, No AM BOCESHFM BOCES Adult Literacy: Delayed, ALZ opens @ 10am GLZ opens @ 10amHFM Career & Tech Center: Delayed 2 HrsHadley-Luzerne CSD: Delayed 2 Hrs, No AM Pre-K, No AM BOCES, No BreakfastHansel & Gretel Nursery School: ClosedHappy Kids Day Care Center: Delayed 2 HrsHawthorne Valley School: Delayed 2 HrsHebrew Academy - Capital District: Delayed 2 HrsHelderberg Christian School: ClosedHelping Hands Pre-School: Delayed, No Morning ClassesHoly Spirit School (East G'Bush): Delayed 2 HrsHometown Health Center: Delayed 2 HrsHoosick Falls CSD: Delayed 2 HrsHope 7 Community Center: Open, 9am-6pm, Reg. After School Food Pantry Open9:30a-11:45Hudson City SD: Delayed 2 Hrs, No AM Pre-K, No AM BOCES, No Breakfast, No tutoring centerHunter-Tannersville CSD: ClosedIchabod Crane (Kinderhook) CSD: Delayed 2 HrsImmaculate Conception (Glenville): Open, 9:00 am mass cancelledIndian Lake CSD: Delayed 2 Hrs, No AM Pre-K, No BreakfastInlet Common SD: Delayed 2 HrsJefferson CSD: ClosedJohnstown City SD: Delayed 2 Hrs, No AM Pre-K, No AM BOCESJubilee Child Day Care Center: Delayed 2 HrsKid Kampus: Delayed 2 Hrs, Opening at 8:30AMKidsFirst Childcare Center: Delayed 2 HrsKim's Kids Daycare: Delayed 2 Hrs, No BreakfastKingsbury Seventh-day Adventist Sch: Delayed 2 HrsKingston City SD: Delayed 2 Hrs, No AM BOCES, Kingston SD is on a 2 hr delay no AM BOCESLa Salle Institute (Troy): Delayed 2 HrsLakeside Nursery School: Delayed, No AM Pre-SchoolLansingburgh CSD: Delayed 2 Hrs, No Breakfast, Lansingburgh CSD is operating on a 2 hour delayLatham Christian Academy: Delayed 2 Hrs, No AM KLearning To Know Educational Center: Delayed 1-1/2 HrsLexington Center Fulton Co ARC: Open, No TransportationLiberty Ent/ Montgomery Co. ARC: Delayed 2 HrsLife Kids Before/ After School: Open, No AM ProgramLifeSong Inc (Saratoga): Delayed 1 HrLifeSong Inc (Schenectady): Delayed 1 HrLifeSong Inc. (Albany): Delayed 1 HrLifeSong Inc. (Rensselaer): Delayed 1 HrLil' Lambs Christian Daycare Inc.: Delayed 2 HrsLit'l Steps Pre-School: Closed, No AM Pre-KLittle Feet Daycare Center: Delayed 2 HrsLittle Tot Nursery School: Closed, No AM Pre-KLiving Res DCOP (Albany): Delayed 1 HrLiving Res DCOP (Rensselaer): Delayed 1 HrLiving Res DCOP (Saratoga): Delayed 1 HrLiving Res DCOP (Schenectady): Delayed 1 HrLong Lake CSD: Delayed 2 Hrs, No AM Pre-K, No AM BOCES, No BreakfastLoudonville Christian School: Delayed 2 HrsMalta Montessori School: Delayed 2 Hrs, No Toddler Class, No Toddler ClassMargaretville CSD: ClosedMayfield CSD: Delayed 2 Hrs, No AM Pre-K, No AM BOCES, No BreakfastMechanicville City SD: Delayed 2 Hrs, No BreakfastMekeel Christian Academy: Delayed 2 Hrs, No AM Pre-SchoolMenands UFSD: Delayed 2 Hrs, No BreakfastMiddleburgh CSD: ClosedMillbrook CSD: Delayed 2 HrsMohawk Trail Regional SD: Delayed 2 HrsMohonasen CSD: Delayed 2 Hrs, No AM BOCESMontessori School (Schenectady): Delayed, No AM Program, opens at noon, School will open at noon for PM programming.Montgomery County Office for Aging: Delayed 2 Hrs, Advisory Council cancelledMorning Star Learning Center: Delayed 2 Hrs, stay tuned, be safeMother Teresa Academy: Delayed 2 Hrs, No AM Pgm, No am nursery program, School opens at 9:45amMountain Road School: Delayed 2 Hrs, No Before School Care.Mt Moriah Academy: Delayed 2 HrsMyers Education Center: Delayed 2 Hrs, 12 month offices 2 hour delayN. Greenbush Little Red School: Delayed 2 HrsNew Lebanon CSD: Delayed 2 HrsNew Paltz CSD: Delayed 2 HrsNewmeadow at Malta: Delayed 2 HrsNewmeadow at Queensbury: Delayed 2 HrsNiskayuna CSD: Delayed 2 HrsNorth Colonie CSD: Delayed 2 HrsNorthville CSD: Delayed 2 Hrs, No AM Pre-K, No AM BOCES, No BreakfastNotre Dame-Bishop Gibbons: Delayed 2 HrsO.K. Kids, Inc.: Delayed 2 HrsOak Hill School: Delayed 2 HrsOhav Shalom Nursery School: Delayed, No AM Program, No am care for Ohav Shalom school starts at 930 staff report 900 amOnteora CSD: Delayed 2 Hrs, No AM BOCESOppenheim-Ephratah-St Johnsville SD: ClosedOur Lady Queen of Peace (Rotterdam): Open, Faith Formation classes cancelled dut to closing of Schalmont SchoolsOur Lady of Victory Early Childhood: Delayed 2 Hrs, No AM Pre-KOur Savior's Lutheran School: Delayed 2 Hrs, No AM K, No AM Pre-SchoolOur World Montessori: Delayed 2 Hrs, Open at 10:45 a.m.Owen D. Young CSD: Delayed 2 Hrs, No AM BOCESPark Avenue Nursery School: ClosedParsons Early Head Start Day Care: Delayed 2 Hrs, Staff report at 9:00 AMParsons Early Learning Center: Delayed 2 Hrs, Staff report at 9:00 AMPerth Bible Christian Academy: Delayed 2 HrsPine Plains CSD: Delayed 2 Hrs, No AM BOCESPineview Comm Church Pre-School: Delayed 1 Hr, open at 8:30Prospect Center: Delayed 2 HrsPumpkin Patch (Albany): Delayed 2 HrsQueensbury UFSD: Delayed 2 Hrs, No AM BOCESQuestar III BOCES - Sarah's Sisters: Delayed 2 HrsQuestar III Catskill Academy: Delayed 2 HrsQuestar III Columbia-Green Ed Ctr: Delayed, No AM BOCES, 2 HR DelayQuestar III Rensselaer Academy: Delayed 2 HrsQuestar III Rensselaer Edu Ctr: Delayed 2 Hrs, Q3 New Vision is closedQuestar III Sackett Educational Ctr: Delayed 2 HrsRavena-Coeymans-Selkirk CSD: Delayed 2 Hrs, No AM Pre-K, No AM BOCESRed Hook CSD: Delayed 2 HrsRensselaer City SD: Delayed 2 HrsRhinebeck CSD: Delayed 2 HrsRiverRun Community Montessori: ClosedRoots and Wings Montessori: Delayed 2 Hrs, No before care. Open 9:30Rosa Venerini Early Childhood Cente: Delayed 2 Hrs, No AM Pgm, No am classes or beforecare School opens at 11amRoxbury CSD: Delayed 2 Hrs, No AM Pre-K, RCS is now delayed 2 hrs - roads are in worse shape then expected. Stay off the side roads until treated , drive carefully today January 18Sacred Heart School (Troy): Delayed 2 Hrs, TSL will open at 9:00amSalem CSD: Delayed 2 Hrs, No AM Pre-K, No AM BOCES, No BreakfastSaratoga Academy Arts & Science: Delayed 2 HrsSaratoga Bridges: Delayed 1 HrSaratoga Central Catholic HS: Delayed 2 HrsSaratoga County Senior Meals: ClosedSaratoga Independent School: Delayed 2 Hrs, No AM Pre-K, No Before CareSaratoga Springs City SD: Delayed 2 HrsSaugerties CSD: Delayed 2 HrsSchalmont CSD: Closed, Level 1 ClosureSchenectady City SD: Delayed 2 Hrs, No AM Pre-KSchenectady Jewish CC Day Care: Delayed, Opening at 8:30 amSchenevus CSD: ClosedSchodack CSD: Delayed 2 HrsSchoharie CSD: ClosedSchoharie Career and Technical Scho: ClosedSchoharie County ARC: Open, Buses on Snow Routes, Staff report regular time Public bus aides report regular timeSchoharie County Com. Action Prg.: ClosedSchoharie Cty Child Dvp Cobleskill: Closed, No AM Pre-K, No AM Head Start, HS & EHS closedSchoharie Cty HeadStart (Schoharie): Closed, HS & EHS closedSchool's Out, Inc.: Open, No AM ProgramSchuylerville CSD: Delayed 2 Hrs, No AM BOCES, No BreakfastScotia-Glenville CSD: Delayed 2 HrsSharon Springs CSD: ClosedShenendehowa CSD: Delayed 2 Hrs, No AM K, No AM BOCESShooting Stars Nursery & After Sch.: Delayed 2 Hrs, No AM Pre-School, Will open at 9amSkidmore Early Childhood Center: Delayed, No AM Pre-SchoolSouth Colonie CSD: Delayed 2 Hrs, No AM Pre-K, No AM BOCESSouth Glens Falls CSD: Delayed 2 Hrs, No AM Pre-K, No AM BOCESSouthern Adirondack Edu Ctr: Delayed 2 Hrs, 12 month offices 2 hour delaySouthern Berkshire Regional SD: ClosedSpa Christian School: Delayed 2 Hrs, No AM K, No AM Pre-KSpotted Zebra Learning Center: Delayed 2 Hrs, SZ opens at 9:30 Program begins at 10:30 K Program begins at 11:00St Ambrose School: Delayed 2 Hrs, No AM PgmSt Anne Institute: Delayed 1-1/2 Hrs, Staff Report, No Trans, No school for day service StudentsSt Clement's Regional Catholic Sch: Delayed 2 Hrs, No AM Pre-K, No AM Pre-SchoolSt Edward's Church: Delayed 2 Hrs, No Mass and morning activitiesSt George's School: Delayed 2 Hrs, No AM Pre-School, AEP will begin at 11 amSt Gregory School: ClosedSt Jude the Apostle School: Delayed 2 HrsSt Kateri Tekakwitha School: Delayed 2 Hrs, No AM Pgm, No BreakfastSt Madeleine Sophie Pre-School: Delayed 2 HrsSt Madeleine Sophie School: Delayed 2 HrsSt Mary's Academy (Hoosick Falls): Delayed 2 HrsSt Mary's Church (Crescent): Delayed, No morning MassSt Mary's Institute ES (Amsterdam): Delayed 2 HrsSt Mary's School (Ballston Spa): Delayed 2 Hrs, No AM Pre-School, Before Care open at 8:00 amSt Mary's School (Waterford): Delayed 2 Hrs, No AM Pre-KSt Mary's-St Alphonsus Rgnl Cath: Delayed 2 Hrs, No Pre-K No AM Camp KerrySt Mary's/St Alphonsus Noah's Ark: Delayed 2 Hrs, Open at 9:45St Paul's Childhood Center: Open, No AM Pre-K, Part-day room closed only. Extended-day rooms open.St Pius X School: Delayed 2 Hrs, No AM Pre-KSt Stephen's Pre-K Acad (Delmar): Closed, No preschool today. After school enrichments are on until further notice.St Thomas the Apostle School: Delayed 2 Hrs, No AM Pre-KStepping Stone Pre & DCC (Albany): Delayed 2 HrsStillwater CSD: Delayed 2 HrsStory Place Preschool: Delayed, Open at 10, before care closedStorybook Academy: ClosedSullivan BOCES: Closed, Offices will open at 10 amSunshine Kids Corner: Delayed 2 Hrs, Opening at 9AMSusan Odell Taylor School: Delayed 2 Hrs, No coffee hourTLC Christian Day Care: Delayed 2 Hrs, No BreakfastTaconic Hills CSD: Delayed 2 HrsTech Valley High School: Closed, Staff report at 10 AM.Temple Israel Nursery and Day Care: Open, No early drop off School starts at 9:00The Albany Academies (AA & AAG): ClosedThe Beagle School: Delayed, No AM Pre-K, No AM Pre-School, All AM programs closedThe Downtown School: Delayed 2 HrsThe Hyde Collection: Delayed 2 HrsThe Kid's Place Preschool: Delayed 1 HrThe King's School: ClosedTiny Tots Early Learning Center: Closed, No AM Pre-School, No AM Preschool PM TBDTri-Village Nursery School: ClosedTroy City SD: Delayed 2 HrsTroy Prep: Delayed 2 HrsTwin Valley Elementary School: Delayed 2 HrsTwin Valley Middle High School: Delayed 2 HrsUMC Daycare Norton Hill: Delayed 1 Hr, No AM Pre-KUnlimited Potential, Inc: Delayed 1 HrUpstate Transit: Delayed 2 HrsVictory Christian Academy: Delayed 2 HrsVoorheesville CSD: Delayed 2 Hrs, No AM BOCES, No BreakfastWSWHE BOCES - Gick Road: Delayed 2 Hrs, 12 moth offices 2 hour delayWWAARC—Albany & Queensbury: Delayed 1 Hr, Staff Report Regular TimeWaldorf School (Saratoga Springs): Delayed 2 Hrs, No 2 day PreKWarren Street Academy - The Bridge: Delayed 2 Hrs, No BreakfastWashington County Nutrition Program: Closed, No Senior Meal Sites ; No Home Delivered MealsWaterford-Halfmoon UFSD: Delayed 2 Hrs, No BreakfastWatervliet City SD: Delayed 2 HrsWebutuck (Northeast) CSD: Delayed 2 HrsWesley Evergreen Adult Day Program: Delayed 2 HrsWest Canada Valley CSD: Delayed 2 Hrs, No AM Pre-K, No AM BOCESWheelerville UFSD: ClosedWhispering Pines (Cobleskill): ClosedWhispering Pines - Schoharie UPK: ClosedWhispering Pines Pre Sc (Amsterdam): Delayed 2 Hrs, No AM Pre-KWhispering Pines Pre-sch (Delanson): ClosedWhispering Pines Presch - Boulevard: Delayed 2 Hrs, No AM Pre-KWhispering Pines Preschool at Meco: Delayed 2 Hrs, No AM Pre-KWilton Baptist Academy: Delayed 2 Hrs, No AM KWindham-Ashland-Jewett CSD: ClosedWonderland Nursery School: ClosedWoodland Hill Montessori School: Delayed 2 Hrs, Delayed 2 hours . No early care. No toddler AM session, delayed 2 hours. No early care. No toddler AM sessionWorcester CSD: ClosedWynantskill UFSD: Delayed 2 HrsYMCA (Bethlehem): Open, No Morning ClassesYMCA (East Greenbush): Open, No Morning Classes, Child Watch opens at 9am, Before School Care 6:45amYMCA (Greater Glenville): Open, No AM classes before noon.. No babysitting before noon.YMCA (Guilderland): Open, No AM Pre-School, No Morning Classes, No AM branch childcareYMCA (Schenectady): Open, No Morning Classes, Child Watch Closed for AMYMCA (Troy): Open, No Morning Classes, Child Watch opens at 9amYMCA Southern Saratoga: Open, No Morning ClassesYWCA of Schenectady Children's Ctrs: Delayed, YWCA child care @SCCC delay Until 8am. WA site delayed Until 9amYWCA of the Greater Capital Region: Delayed 2 Hrs

Trial opens today in $9M investment fraud case

Trial opens today in $9M investment fraud case

Business partners Timothy McGinn and David Smith seemed to be on top of the world when the U.S. econ

Business partners Timothy McGinn and David Smith seemed to be on top of the world when the U.S. economy was flying.

At the height of their prosperity, the longtime business partners had affluent homes, owned expensive country club memberships and bought thoroughbred racehorses. Their wealth even carried them into the cruise line business — investing in a company later described as a “sexually-oriented charter cruise venture” in federal court documents.

Then the national recession touched down in 2007. And it came with a steep decline in their fortunes.

In 2010, the U.S. Securities and Exchange Commission accused the partners of the Albany-based McGinn and Smith & Co. of operating a complex Ponzi scheme through fraudulent debt offerings.

The civil case against the partners was followed by a 30-count criminal indictment returned in federal court in January 2011, accusing McGinn and Smith of siphoning more than $8 million from investors to fuel their lavish lifestyles; an additional two-count indictment returned in October accuses the two of bilking an additional $1 million.

But the defense team representing the partners believe there’s a simpler explanation. They argue McGinn and Smith fell victim to the same financial crash that lost their investors tens of millions of dollars after the national economy tanked.

“But for the economic collapse, none of this would have happened,” said E. Stewart Jones, the attorney representing McGinn.

The jury draw for the trial begins this morning in U.S. District Court in Utica, with opening arguments beginning sometime later in the afternoon or on Tuesday. The trial is expected to last up to four weeks, with testimony delivered Monday through Thursday.

A lot will be hanging in the balance for the partners during the trial. Some of the charges in the indictment carry penalties of up to 30 years in prison and a $1 million fine.

The trial originally slated for March 2012 was delayed on several occasions. The defense attorneys sought additional delays last fall, citing that federal prosecutors were introducing roughly 6,000 pages of evidence and planning to call 91 witnesses to the stand during the trial.

But U.S. District Court Judge David Hurd refused to prolong the case, which has kept the SEC case frozen since March. A call placed to prosecutors was not retuned Friday.

Federal prosecutors claim the money McGinn and Smith skimmed from $37 million invested into 17 private trust funds later meant drastic losses for their clients, some of whom had trusted the brokerage firm with their retirement funds. More than a quarter of the total amount invested into the trust funds went to benefit the firm through fees, or money transferred into their own accounts, according to the indictment.

The federal investigation into the firm has already landed three convictions.

Last year, former senior managing partner Matthew Rogers pleaded guilty to the misdemeanor charge of filing a falsified tax return on behalf of Smith and his wife, Lynn.

Around the same time, Binghamton accountant Ronald Simons pleaded guilty to a misdemeanor tax fraud count, acknowledging that he filed a false income tax return on behalf of the Smiths.

In July, former Chief Financial Officer Brian Shea acknowledged that he submitted backdated promissory notes to a regulatory agency regarding money that McGinn and Smith had improperly diverted in connection with offerings of unregistered securities. As part of his plea, Shea admitted that Smith directed him to create the false entries to conceal money being improperly diverted from an escrow account to McGinn.

Shea and Rogers are both due to be sentenced in March. Simons is scheduled to be sentenced Jan. 22, according to court documents.

Jones said McGinn, 64, and Smith, 67, are in the Capital Region for the trial.

He said both are anxious for the outcome.

“It’s bewildering to them how any of this could have happened,” he said.

View Comments
Hide Comments
You have 0 articles 1 articles 2 articles 3 articles 4 articles 5 articles 6 articles 7 articles remaining of Daily Gazette free premium content.

You have reached your monthly premium content limit.

Continue to enjoy Daily Gazette premium content by becoming a subscriber.
Already a subscriber? Log In