Belmont Resident Caught in Insider Trading Scheme

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When providing a friend a tip at the Oakley Country Club on Belmont Street, best leave it to what club to use off the 18th hole and not what financial institution your bank is about to purchase.

If Belmont resident John Patrick O’Neill had heeded that advice, he and his golfing partner and fellow Oakley member, Robert Bray, wouldn’t have found themselves under arrest Monday by the United States Attorney’s Office. That office, along with a separate civil action filed by the Securities & Exchange Commission, accused the pair of an alleged blatant case of insider stock trading.

O’Neill, who currently works at TD Bank, was released on $200,000 bond after his arrest on conspiracy to commit securities fraud charges.

According to a series of press releases by several law enforcement agencies released Monday, Aug. 18, O’Neill, a senior vice president and senior credit officer at the time at Eastern Bank, told his golfing buddy Bray on June 11, 2010 that his bank was close to purchasing Boston-based Wainwright Bank and Trust. O’Neill was a member of Eastern Bank’s due diligence team evaluating Wainwright in the weeks leading up to the deal.

The next trading day, Monday, June 14, the Cambridge native hot tailed it to his stockbroker to buy 25,000 shares of Wainwright stock, which he acknowledged to the broker “kinda sounds crazy” as the stock had shown little trading activity selling between $8.85 and $9.90 per share. Eventually, Bray purchased 31,000 shares over the next two weeks, accounting for a whopping 56 percent of the total trading volume in Wainwright over the fortnight.

On June 29, according the US Attorney Carmen Ortiz, Eastern Bank announced its agreement to acquire Wainwright for $19 per share in cash, a premium of nearly 100 percent more than the stock’s prior closing price. Bray then sold his 31,000 shares for a profit of more than $300,000.

But as Vincent Lisi, special agent in charge of the FBI in Boston said Monday, “there are many tripwires in place to detect suspiciously timed trades and as a result of those tripwires numerous people in the Boston area have been charged with insider trading based on parallel FBI and SEC investigations.”

“The risk versus reward calculation for insider trading should be clear based on the increasing number of those recently charged,” said Lisi.

The maximum sentence under the statute is five years in prison and a fine of the greater of $250,00 or twice the gross gain or loss.

 

Wednesday Final Day to Register for State Primary

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Since Massachusetts is considered a very “blue” state, one can expect the Sept. 9 Massachusetts Party Primary Election will generate the most excitement for all the state-wide races being contested this year.

If you don’t want to be left out, then you have until today, Wednesday, Aug. 20, to register to vote in the party election.

To help residents, the Belmont Town Clerk’s Office, located on the first floor of Belmont Town Hall in Belmont Center, will remain open until 8 p.m. today, according to Town Clerk Ellen Cushman.

And you will only be allowed to vote in the election if you are registered as a member of a political party that is holding a primary election – such as the Republican and Democrat – or are unenrolled. Residents can change their party affiliation or become unenrolled at the Town Clerk’s

Any Belmont resident who is 18 years or older and a citizen of the United States can register to vote.

If you were a registered to vote in another town or state, you’ll need to register as a voter in Belmont in order to vote here.

Voter registration and changes to party affiliation, name or address (within Belmont) documents are available at the Town Clerk’s office in Belmont Town Hall, 455 Concord Ave. or online at the Town Clerk’s web pages.

Absentee Ballot Application

Forms for individuals who qualify to receive an absentee ballot due to absence from Belmont on Election Day or physical disability preventing the voter from going to the polling place or religious belief. A voter may request a ballot in writing to the Town Clerk but the request must include the voter’s signature.

James Brown and The Blues Dogs at Payson Park

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James Brown Jr. will be joining The Blues Dogs at the penultimate concert of the 2014 Payson Park Music Festival tonight, Wednesday, Aug. 20 beginning around 6:30 p.m.

The Blues Dogs, which is a perennial visitor to the Festival, “is a collection of Boston mutts that all love to play the blues,” according to its website.

“That stuff that gets you to tapping your foot, nodding your head, and then just to shaking all over. Feeling good music.”

The quarter-century Payson Park Music Festival is held at Payson Park Playground at the corner of Payson Road and Elm Street.

The concert is sponsored by the Alper Family.

Rojas Leaning Closer to Re-election Run

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While still more than a half a year away before Belmont residents go to the polls in the 2015 town election, one incumbent is leaning ever closer to announcing a re-election run to keep his seat on the town’s executive branch.

“I still have a lot of time before I have to announce, but my inclination is that, yes, I will be running for the board,” said Andy Rojas, chair of the three-member Board of Selectmen when asked by the Belmontonian at the end of the board’s public meeting held Monday, Aug. 19.

The Drew Road resident won his first run for town-wide office in April 2012 when he defeated then-School Committee member, the late Dan Scharfman in one of the closest elections in town history, 2,171 to 2,136, to replace Angelo Firenze on the board.

Conners Retiring as Belmont Library Director

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“Everything has to come to an end, sometime,” wrote L. Frank Baum in “The Marvelous Land of Oz.” And on Halloween, Oct. 31, that “sometime” will occur at the Belmont Public Library as Maureen Conners, its long-serving director, will retire from the position she has held for nearly three decades. “I’m leaving before I turn into a pumpkin,” Conners told the Belmontonian on Monday, Aug. 18. Conners decision to turn in her library card was due in large part to the retirement of her husband from his job a year ago. “He has been saying that we should do things while we’re not ‘too old old’, and that sounded good to me,” the Medford-resident said. The Belmont Board of Library Trustees will discuss hiring a new director at its Tuesday, Aug. 19 meeting while the town has issued a job posting. Conners believe a new director could be named by mid-November. The salary range is $76,859 to $109,140 commensurate with experience and includes a full benefit package. Conners, a Cambridge-native who received a master’s in Library Science from Simmons College, has been at the helm of the library for the past 18 years, coming to the library from Watertown where she worked her way up from children’s librarian to assistant library director. Conners points to the introduction and use of technology as a significant accomplishment in her time at the library located on Concord Avenue. “When I got here, the computers were still in their boxes, waiting to be used,” said Conners, who also hired a technology librarian to allow the library to meet the need of a changing library clientele. The library has increased its digital services to include library-wide WiFi, tablets and e-books, computers for patrons and the introduction of Kindle and shared software. She is also responsible for establishing the Young Adults Room on the library’s main floor and the hiring of a young adult librarian to accommodate the needs of Middle and High School students. Conners said her greatest disappointment during her tenure was returning back to the state three separate grants from the Massachusetts Board of Library Commissioners when the town would not approve either the spending for or location of a new library. “Hopefully, a new director will have more success,” said Conners.

Deconstruction of Belmont’s Clark House Begins

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The first step in the eventual deconstruction of the historic Thomas Clark House has begun with the removal of the upper-floor window sills and some interior work that took place in the past week.

One of the town’s oldest residential homes, the 254-year-old structure was the center of a nearly three-year long effort to preserve the pre-Revolutionary War era house after its original homestead on Common Street was sold to a developer in the summer of 2011. In the most dramatic act, the house was slowly moved down town streets to its current location on Concord Avenue near the White Field House in February 2012.

But supporters, including the deed holder Architectural Heritage Foundation and the Belmont Historic District Commission, could not find a suitable site to relocate the building. With costs to reinsure the building coming due, it was determined in July to “deconstruct” the structure.

Help Belmont’s Health Dept Survey Public Health Concerns

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What are your public health concerns?

The Belmont Health Department is seeking residents input to an online survey to determine what community health education resources town citizens would like to come from the department. 

You can take the survey here or going to the Health Department’s web page. 

What’s Coming This Week: Ice Cream and a Mad Scientist at the Beech, Chef Gerry Returns Again

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• Another sign that summer is nearly over: the return of the Belmont Board of Selectmen! It is meeting on Monday, August 18 in Town Hall at a special early time of 6 p.m. On the agenda: an update on the storm water regs and a presentation for a Belmont Veterans Memorial project.

• Meet Belmont’s new school super as John Phelan holds a open house coffee for all residents at the School Administration building in the Town Hall Complex in Belmont Center on Monday, August 18 from 4:30 p.m. to 6 p.m. 

• Come to one of the final Summer Pre-School Story Time at the Benton Library – at the corner of Oakley and Old Middlesex – on Tuesday, August 19, at 10:30 a.m. Story time will be hosted by summer intern Lenora Ellison or Denise Patnod for children ages 3 to 5. Parents or caregivers must be present. Siblings may attend with adults. Registration is not required.

• Chef Gerry is back! After making sushi, California rolls and other great food at Belmont Public Library, Belmont resident Gerry Connolly – a Cambridge School of Culinary Arts Professional Chef Program graduate with 20 years of experience as a personal chef and event caterer – is coming to make flat breads and dressings on Tuesday, August 19 at 7 p.m. to 8:30 p.m. This event is free thanks to the generosity of Chef Gerry and the Friends of the Belmont Public Library. Space is limited, so please sign up online or sign up by phone at 617-993-2870.

• The Belmont Public Library is providing one-on-one Digital Library Help on Tuesday, August 19, from 7 p.m. to 7:30 p.m. and on Wednesday, August 20 at 11 a.m. to 11:30 a.m. in the Reference Room. Learn how to download eBooks from the library and set up a device. Get started with Zinio to read free digital magazines. E-mail and Internet basics, social media, or basic computer skills. Registration is required; register online or call 617-993-2870 to register by phone. Some services require downloading an app. Please come prepared with your Apple ID, Adobe ID, Amazon Account information, or other password and log in information for your device.

• Duplicate Bridge Club meets from 9:30 a.m. to 12:30 p.m. every Wednesday at the Beech Street Center at 266 Beech St. The club holds American Contact Bridge League-sanctioned games. All are welcome to play. Cost is $7. Phone: 339-223-6484 for more information.

• A genre party for the Belmont Public Library’s Children’s Summer Reading Program will take place in the Assembly Room on Wednesday, August 20 from 6 p.m. to 8 p.m.

• It’s an Ice Cream Social and Mad Science Extravaganza for all Belmont residents as the Beech Street Center welcomes back the Mad Scientist on Friday, August 22 beginning at 1:30 p.m. Children will be dazzled and entertained as they interact with the Mad Scientist, whose show includes foggy dry ice and demonstrations of floating beach balls in the air. He will unlock the mystery of how to get “Egg-bert” back into his house using suggestions from the audience. Ice cream will be served at 1:30 p.m. and the entertainment will begin at 2:30 p.m. Suggested donation: $1. Tickets are available for 160 people. reserve by calling 617-993-2970 or come by in person.

 

Time’s Running Short to Register in State Elections

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Here is information that will confirm that summer is nearly over: the biennial State Elections are just around the corner as Massachusetts voters this year will select several important statewide political officials including a new Governor, Lt. Governor, Attorney General and Treasurer along with members of Congress and the state legislature.

If you want to be part of the process, Belmont Town Clerk Ellen Cushman is ready to register residents to vote in the Sept. 9 State Party Primary and the Nov. 4 General State elections.

Any Belmont resident who is 18 years or older and a citizen of the United States can register to vote.  In order to be eligible to vote in the upcoming elections, voter registration must be received or postmarked by the following dates:

  • Wednesday, Aug. 20 for the Sept. 9, for State Party Primaries.
  • Wednesday, Oct. 15 for the Nov. 4, for State General Election.

The Belmont Town Clerk’s office will be open until 8 p.m. on the deadline days.

Registered To Vote in Another Town

If you were a registered to vote in another town or state, you’ll need to register as a voter in Belmont in order to vote here.

Voter registration and changes to party affiliation, name or address (within Belmont) documents are available at the Town Clerk’s office in Belmont Town Hall, 455 Concord Ave. or online at the Town Clerk’s web pages.

Absentee Ballot Application

Forms for individuals who qualify to receive an absentee ballot due to absence from Belmont on Election Day or physical disability preventing the voter from going to the polling place or religious belief. A voter may request a ballot in writing to the Town Clerk but the request must include the voter’s signature.