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Investor Pleads Guilty,

Faces 4-12 Years In Jail

Cooperstown Man Misused Funds

From Estate, Attorney General Says

Tom Lagan

ALBANY – Albany area financial adviser Tom Lagan, who lives in Cooperstown and has investments in the area, pleaded guilty to a charge that could bring him 4-12 years in jail, state Attorney General Letitia James announced today.

Lagan pleaded guilty before Albany County Supreme Court Judge Thomas Breslin to grand larceny, first degree, a Class B felony, James said in a press release.  Sentencing is scheduled for June 19.

Lagan was one of three partners in plans to build a downtown Cooperstown hotel in 2015, and was also an investor in the Paterno Brothers building on Main Street, the Elm Inn in Milford and other ventures.

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