COOPERSTOWN – According to the Albany Times Union, Cooperstown investor Tom Lagan, 61, is in prison.
The newspaper’s Law Beat section reported Saturday that Lagan, who was a partner in the effort to building a downtown hotel here in 2015, and owns several other properties, surrendered to the federal Marshall’s Office at 445 Broadway in Albany last Monday, allowing him to begin serving time in a federal prison system considered less harsh than the state one.
“The reason he could do that is in August, Lagan pleaded guilty to federal money laundering conspiracy and filing false tax returns. He is scheduled to be sentenced for those crimes on Dec. 12 by Senior Judge Lawrence Kahn,” according to the newspaper.
The case involves the estate of Warren and Pauline Bruggeman, philanthropists who were major benefactors to RPI and other institutions in the Capital Region.
Lagan is also facing 4-12 years on charges brought by the state Attorney General’s Office, which would require Lagan to spend at least some time in Downstate Correctional Facility near Poughkeepsie.
Law Beat speculated Lagan’s early surrender may allow him to serve most of his sentence in a federal prison set aside for white-collar crimes.