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NY Town Settles SEC Suit, Agrees To Retain Consultant

By Cara Salvatore (June 10, 2019, 7:10 PM EDT) -- The Long Island, New York, town of Oyster Bay has agreed to hire an independent consultant to settle U.S. Securities and Exchange Commission claims that it concealed indirect guarantees of more than $20 million in private loans to a local businessman from municipal bond investors, according to a consent decree submitted for court approval Friday....

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