Sunday, July 20, 2025

Dump Piermont Bonds.

M E M O R A N D U M

To:      All Municipal Bond Professionals – Wall Street, And Elsewhere
From:  John J. Tormey III, Esq.
Date:   Sunday, July 20, 2025
Re:      
New York State Comptroller (OSC) AUDIT
Mayor Bruce Tucker’s Village Of Piermont, New York
CUSIP Base #720798 [CUSIP 720798HC4] - Municipal Bonds
 
Distribution:
futurenow@futurenet.com (Moneyweek)                            
info@troweprice.com (T. Rowe Price)
MarketSupervision-US@ice.com (Intercontinental Exchange)    
michael.scarchilli@arizent.com (The Bond Buyer/Arizent)
MSRBSupport@msrb.org (Municipal Securities Rulemaking Board/MSRB)
mutualfunds@usnews.com (US News and World Report)
press@dotdash.com (Investopedia)
research@sifma.org (Securities Industry and Financial Markets Association/SIFMA)
support@barrons.com (Barron’s)
by web-form and mail: (Fidelity Investments)
by web-form and mail: (JP Morgan Private Bank)
by web-form and mail: (Merrill Lynch Wealth Management)
by web-form and mail: (municipalbonds.com)
 
Dear Bond Market Professionals:
 
Further to my prior correspondence regarding the financial condition and bond rating of the Village of Piermont in Rockland County, New York, Mr. Thomas DiNapoli’s Office of the New York State Comptroller (OSC) is commencing an Audit of Mayor Bruce Tucker’s Village of Piermont:
https://unhandpiermont.blogspot.com/2025/07/incorporated-village-of-piermont-new_12.html
https://unhandpiermont.blogspot.com/2025/07/news-12-exclusive-ace-reporter-katerina.html
https://unhandpiermont.blogspot.com/2025/07/thus-spaketh-village-yorg-piermont.html
https://unhandpiermont.blogspot.com/2025/07/piermonts-municipal-bond-rating-gets.html
 
The prior correspondence and related material can be found at these links for your reference:
https://unhandpiermont.blogspot.com/2025/07/audited-mayor-bruce-tucker-seeks-new.html
https://unhandpiermont.blogspot.com/2024/11/unhand-piermont-to-standard-poors-told.html
https://unhandpiermont.blogspot.com/2024/11/unhand-piermont-to-wall-street-told-ya.html
https://unhandpiermont.blogspot.com/2024/07/crouching-tiger-hidden-garmento.html
https://unhandpiermont.blogspot.com/2024/08/analyze-this.html
https://unhandpiermont.blogspot.com/2024/08/takin-it-to-street.html
https://unhandpiermont.blogspot.com/2024/08/found-her.html
https://unhandpiermont.blogspot.com/2025/05/ha-ha-charade-you-are.html
https://unhandpiermont.blogspot.com/2025/05/junk-bonds-anyone.html
https://unhandpiermont.blogspot.com/2025/05/piermont-mayor-bruce-tucker-gets-gonged.html
https://unhandpiermont.blogspot.com/2025/02/mayor-bojangles-tucker-i-drinks-bit.html
 
The significant new OSC Audit action taken against the Village of Piermont and Mayor Bruce Tucker follows in time, as you may recall, OSC’s commencement of a “Risk Assessment” of Piermont in 2024. The “Risk Assessment” was made known to the public some time after its initiation:
https://unhandpiermont.blogspot.com/2024/11/newsflash-office-of-new-york-state.html
My understanding is that although the “Risk Assessment” has already taken numerous months, its last portion may itself nevertheless still remain to be completed by OSC.
 
My further understanding is that this new development, though – that is, the OSC Audit of Piermont - has yet to be publicly-communicated by the New York State Comptroller to date. Rather, the OSC Audit of Piermont was instead quietly revealed by Piermont government itself, appearing to have been buried as “Item #5” in a newly-discovered document recently uploaded to the Village of Piermont’s Internet website reflecting minutes (labeled “DRAFT”) of the Village’s sparsely-attended June 10, 2025 Board of Trustees meeting. You will find a copy of those minutes attached/enclosed hereto with the mailed copy of this letter. You may also find a copy of the minutes as linked below:
https://cms9files1.revize.com/piermont/DRAFT%20BOT%20Meeting%20Minutes%20June%2010th,%202025.pdf
https://www.piermont-ny.gov/government/agendas_and_minutes.php
https://unhandpiermont.blogspot.com/2025/07/exclusive-new-york-state-comptroller.html
 
While neither the Village of Piermont’s outgoing Mayor Bruce Tucker nor the New York State Comptroller have yet fully informed the resident taxpayers of Piermont or other members of the public what the parameters, subject-matter, or scope of the Piermont Audit may actually be – we nevertheless now can deduce at least three very important things about the Piermont Audit:
 
1. Procurement. The Office of the New York State Comptroller auditors are scrutinizing Bruce Tucker’s and the Village of Piermont’s procurement practices vel non:
https://cms9files1.revize.com/piermont/DRAFT%20BOT%20Meeting%20Minutes%20June%2010th,%202025.pdf
 
2. Expenditures. The Office of the New York State Comptroller auditors are chasing down Piermont Mayor Bruce Tucker's expenditures:
https://unhandpiermont.blogspot.com/2025/07/news-12-exclusive-ace-reporter-katerina.html
 
3. Insufficiency Of The Risk Assessment Alone. The Office of the New York State Comptroller auditors clearly have determined that the results of the multi-month “Risk Assessment” of Piermont initiated last year, were insufficient to provide the Comptroller’s office adequate comfort that Mayor Bruce Tucker handled Piermont’s finances correctly and appropriately during his 7+ year failed mayoral reign.
 
Law enforcement agencies have been alerted to the existence of the NYS Comptroller Audit of the financial practices of Mayor Bruce Tucker’s Piermont:
https://unhandpiermont.blogspot.com/2025/07/do-you-like-apples.html
https://unhandpiermont.blogspot.com/2025/07/third-prize-is-youre-fired.html
https://unhandpiermont.blogspot.com/2025/07/a-deep-deep-probe.html
https://unhandpiermont.blogspot.com/2025/07/well-i-guess-youre-gonna-have-to-go.html
https://unhandpiermont.blogspot.com/2025/07/dont-mess-with-bull-young-man-youll-get.html
 
As further background information, an overall chronology outlining the harm done by Piermont government to residents in recent years, can be found here:
https://unhandpiermont.blogspot.com/2025/07/the-piermont-chronology-step-by-step.html
 
Additionally, a subject-matter link-list by topic for ease of reference, can be found here:
https://unhandpiermont.blogspot.com/2025/07/your-links-to-piermont-new-york-july.html
 
Thank you to you and your colleagues for your continued attention to this matter.
 
Very truly yours,
 
John J. Tormey III, Esq.
Resident of the Town of Orangetown, New York
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