GUILDERLAND, N.Y. — A guilty plea from a former Guilderland town judge in connection with a plan to steal $11 million.
Authorities say Richard Sherwood, along with an alleged co-conspirator, took millions from family trusts they were responsible for overseeing for Albany-area philanthropists. The complaints date back to 2006.
According to one of them, Sherwood was supposed to distribute $2 million to six different charities, but instead took the money for himself.
In another part of the scheme, the pair created a false charity called the Empire Capital Trust and funded it with a million dollars of stolen cash.
Sherwood pleaded guilty to grand larceny and agreed to give back$3.7 million as as well as his home on Galway Lake.
He also faces three to ten years in prison.
He stepped down as a Guilderland town Judge because of the case.
Charges against Thomas Lagan are still pending.