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Judge Cathy Seibel denied the new trial Wednesday at the federal court in White Plains, saying the jury acted on sufficient evidence and was not influenced in its deliberations, lohud.com said.
The motion, filed by St. Lawrence's attorney, Michael Burke, included 19 grounds for dismal included such statements as the "verdict is contrary to the weight of evidence," and the "court erred in denying defendant's pre-trial motions."
He was convicted of 20 counts of securities fraud and conspiracy on May 19 following a four-week trial in federal court in White Plains. His conviction was a first for securities fraud in connection with municipal bonds.
The case centered on St. Lawrence's rigging of the town's financial books in order to receive lower rates on bonds to finance a $58 million baseball stadium in Pomona, a housing complex on Elm Street, and other town projects through the Ramapo Local Development Corp.
The jury returned guilty verdicts on 12 wire fraud counts and eight counts of securities fraud. The 65-year-old St. Lawrence, who lives in Wesley Hills, was acquitted of one count of securities fraud and one count of wire fraud.
The 11 counts of wire fraud each carry a maximum sentence of 20 years in prison; eight counts of securities fraud, each of which carries a maximum sentence of 20 years in prison; and one count of conspiracy, which carries a maximum sentence of five years in prison.
His sentencing is slated for Nov. 27.
Burke has said St. Lawrence plans to appeal the conviction, despite Wednesday's decision.
Click here to read the lohud.com story.
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