Oyster Bay Town Supervisor John Venditto is resigning his post at the close of business Wednesday, two and a half months after the leader of New York State's fourth largest township was indicted on federal corruption charges.
"I have decided to leave my position as the Oyster Bay Town supervisor," Venditto said in a statement on Tuesday. "I now feel that it is in the best interests of the town and its residents for me to do so, especially since it will be difficult, if not impossible, for me to function as the town supervisor going forward, as I focus on clearing my name."
The United States Attorney's Office charged Venditto and Nassau County Executive Ed Mangano as part of a 13-count federal indictment that includes conspiracy to commit federal program bribery and honest services fraud. Prosecutors allege that between January 2010 and February 2015, Venditto and Mangano engaged in a scheme to receive bribes and kickbacks from a Long Island restaurant owner. Mangano has opted to stay in his elected office while he fights the charges.
Oyster Bay spokeswoman Marta Kane said Town Councilman and Deputy Town Supervisor Joseph Muscarella, R-North Massapequa, will fill the role of interim supervisor until the town board appoints a replacement.
Venditto, who was first elected town supervisor in 1998, exits as the Long Island town faces deteriorating finances that led to a seven-notch drop from a triple-A credit rating it previously held in 2011. S&P Global Ratings slashed Oyster Bay two notches to BB-plus last April citing weak financial management that led to negative fund balances, including a $19 million operating deficit during the 2014 fiscal year. The Republican supervisor attributed the sharp drop during a July 2016 interview with The Bond Buyer to miscalculated revenues and a steep decline in annual mortgage taxes following the 2008 recession.
