DIGHTON, Mass. (WPRI) — Dighton Police Chief Shawn Cronin, who’s been on leave since being charged in connection with an unlawful trading scheme, is planning on resigning at the end of the month, 12 News has learned.
Cronin will officially step down Sept. 30, according to Dighton Board of Selectmen Chairman Peter Caron.
“On behalf of the community, the board would like to thank Cronin for his dedicated service to the Dighton Police Department, the town and its residents,” Caron said in a statement.
Cronin was sworn in as the town’s police chief last year. He was placed on administrative leave back in June, shortly after the details of the insider trading scheme came to light.
The trading scheme was related to Alexion Pharmaceuticals’ acquisition of Portola Pharmaceuticals.
Cronin is one of five men charged with committing securities fraud and tender offer fraud. In total, Cronin is believed to have received $72,000 in ill-gotten gains through the inside trading scheme.
Caron said the Dighton Board of Selectmen would not be providing further comment regarding the accusations against Cronin.
Dighton Police Sgt. George Nichols has been serving as acting chief ever since Cronin was placed on leave.