Judge orders audit of $100M ‘phantom bond’

After a Dec. 2 appearance in Putnam County Superior Court, where local citizens and Putnam County District 3 Commissioner Stephen Hersey voiced opposition to a proposed development deal, Superior Court Judge Stephen A. Bradley has ordered an independent auditor to investigate the project’s finances.

The order targets a $100 million “Bond for Title” agreement — sometimes called a “phantom bond” — be…