A New London man charged with mishandling investors’ money reached a settlement with the Securities and Exchange Commission to pay back more than one million dollars to a host of investors. The SEC claims David Haddad used proceeds from his two New London based companies to pay for a lavish lifestyle and accumulate debt instead of using the investors’ money to build and grow the two companies he owned as promised. Haddad spent more than $16 million from his Trafalgar Square Risk Management business account. Less then $2 million was used for business expenses. Haddad is also the founder of New London-based Friday’s Rescue Foundation, which is registered and licensed with the state as a charity.
RIVERWALK CLEANUP CONTINUES BEFORE TRIBE TAKES OVER
Preston’s Redevelopment Agency is hoping the 393-acre former state hospital grounds can be transferred from the town to the Mohegan Tribe by September, 2019. That’s when the final site clean-up work is expected to be completed, and final approvals are given by federal and state agencies. Agency chairman Sean Nugent says a 12-month time frame to get the job completed began in mid-July. Nugent told agency members last night that the town-submitted remedial action plan to clean-up the site has been approved by the state. That includes archaelogical studies of some so-called sensitive areas. Once transferred to the Mohegans, the tribe has to begin new development construction on the site within three years, and complete it within six. While no definitive plans have been publicly released by the tribe, initial indications say it could be a combination of entertainment attractions and housing.
Karen Paul, the chairwoman of New London’s Senior Affairs Commission, says it’s time for seniors to tell legislators their stories about their experiences with Veyo, the company that won a state contract last year to take over non-emergency medical transportation for the state’s Medicaid recipients. Legislators have been hearing complaints from Medicaid members since shortly after Veyo’s three-year contract started in January, including stories about missed pickups, poor customer service and rides that arrive hours late. The next scheduled legislative session is in September and Paul said she wants New London seniors who have scheduled rides with Veyo to tell the group’s chairs how it’s going.
STONINGTON REPLACING SEAT BUS
A new plan is about to be used by the town of Stonington to replace the underused SEAT bus service. The program will use vans provided by the Pawcatuck Neighborhood Center. On average, just 22 riders a day use the SEAT bus in town and costs to the town this year increased from $14,000 to $24,000. Town officials are concerned that as state aid to SEAT continues to decrease, the cost to the town will rise even further. The new plan is a joint effort between the neighborhood center and the town’s Human Services Department.
EL PARKING ORDINANCE UPDATED
The East Lyme police force will now be able to write tickets for parking violations, such as parking on the street too close to a driveway, or ramp for a sidewalk, or parking in a crosswalk. Police Chief Michael Finkelstein thanked the East Lyme Board of Selectmen for approving a parking ordinance giving officers another tool and an option other than the state ticket system. Finkelstein has said the existing ordinance was out of date, wasn’t enforceable and did not detail an appeals process.
PRISONER GETS COLLEGE DEGREE
A Norwich man, 42-year-old James Davis III, who is incarcerated, received an associate in science degree yesterday along with 17 other inmates in the first ever Prison Education graduation ceremony. Wesleyan University and Middlesex Community College have offered courses in Cheshire Correctional Institution, since 2009. The graduates, are 26 to 55 years old and from all over Connecticut, and took courses taught by Wesleyan and Middlesex faculty, while dealing with the difficulties and demands of prison life. The program expanded to the women-only York Correctional Institution in Niantic in 2013.
LIBRARY HOURS RESTORED
The Stonington Free Library is restoring its Friday hours that had been cut last month due to budgetary problems, after residents and businesses contributed money to cover the shortfall. Last spring, the library had asked the town for a budget increase but it was denied. The library sought more funding last month but was told by the Board of Finance none was available. The finance board has since formed a task force to look into a future funding plan for the library to help sustain its operation. The library commended borough resident Beth Walker for spearheading the fundraising effort. The Friday hours will be 10 a.m. to 5 p.m. through July 1st 2019.
COP DELIVERS BABY
When Groton Town police officer Marvel Bennett heard the call for an “imminent pregnancy” while on his meal break, he rushed to the address and within two minutes after arriving he helped deliver a baby boy. Bennett said several other police, firefighters, and EMTs arrived within minutes. Emergency medical services took over and transported the mom and her new son to Lawrence & Memorial Hospital. Groton Police Chief Louis Fusaro said mother and child are healthy while praising his officer. Bennett has been on the force for six years.