Ex-Official in Hamptons faces charges

June 11, 2009 8:31:59 AM PDT
The former budget officer for an eastern Long Island town facing mounting deficits has been accused of lying to Wall Street about the town's fiscal health. Ted Hults, who resigned last month, surrendered to authorities on Thursday. He pleaded not guilty at his arraignment in East Hampton town court. Charges included official misconduct, falsifying business records and defrauding the government.

His attorney didn't immediately comment.

East Hampton, summer home to some of the world's wealthiest business leaders and celebrities, faces a budget shortfall of up to $18 million.

Prosecutors say Hults made false statements about the fiscal health of the town in a bond offering. He also is accused of improperly transferring money between different town accounts.


NEW YORK AND TRI-STATE AREA NEWS

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