District 225 trustee Wolfson resigns
Updated: September 10, 2012 6:10AM
NORTHBROOK — Northbrook resident Jeffrey Wolfson resigned a a board member for Glenbrook School District 225 Monday.
He submitted his resignation to the Glenbrook High School District 225’s board, announcing he had sold his home July 18 and would be moving from the district.
Wolfson’s letter of resignation read:
“Due to the fact that I am no longer a resident of School District 225, it is with much sadness that I must submit my resignation from the school board effective immediately. I have enjoyed serving the district over the last three years and I wish the board, the superintendent, Dr. Riggle, and the entire staff all the best in the future.
“District 225 is extremely fortunate to have a dedicated and talented group of elected, employed and volunteer officials with whom I have had the pleasure to serve. I am confident that they will continue to assure the success of the district. If I may be of any service in the future, please do not hesitate to call on me.”
The resignation comes just weeks after the settlement of charges of illegal trading, which resulted in he and his brother Robert, a broker in New York, agreeing to pay more than $14.5 million.Under the settlement, the brothers neither admitted nor denied the violations.
However, Wolfson stressed that leaving had nothing to do with the settlement to which he has agreed. And he did not sell his Northbrook home to raise funds, but because he has purchased a better, larger home in Glencoe.
“I bought a spectacular piece of property on the lake in Glencoe for a fraction of what it was worth. I upgraded.”
Wolfson, was a school board member since 2009 and sat on the finance committee.
The SEC said Robert Wolfson conducted illegal naked short sales while trading through an account at New York-based broker-dealer Golden Anchor Trading II LLC that also has been charged in the SEC’s enforcement action. Since then, the firm has changed its name to Barabino Trading LLC.