Over the past nine months, the board has cooperated fully and assisted the Westchester County District Attorney's investigation which led to the arrest of Loeffler.
Loeffler was charged with grand larceny in the second degree and fourth-degree criminal tax fraud, according to the Bedford Town Court.
Loeffler posted bail and is expected to appear on Monday, Sept. 15, in Lewisboro Justice Court, according to the Bedford Town Court.
Click here to follow Daily Voice Lewisboro and receive free news updates.