City Treasurer David Cohn officially vacated his position on Wednesday. Until the upcoming November election, the city’s Finance Director, Viki Copeland, will act in his stead.
Cohn resigned after 18 months on the job, citing his age and other responsibilities in a resignation letter submitted to the city.
“Between my Corporate Finance firm activities, teaching four classes on the subject of Corporate Finance, and City Treasurer, something just has to give,” he wrote.
Cohn took the helm after ousting longtime treasurer John Workman in a campaign in which he sharply criticized Workman’s conservative investment policies over his 18-year tenure. Three days after Cohn won the election, Workman passed away, shortly after being hospitalized for what appeared to be stress-related symptoms.
In his letter of resignation, Cohn praised the city’s sound financial state and history of austerity, stating that it did not just happen as a result of his 18 months in office. He also suggested that the position be appointed and not elected, a measure the city council denied on Tuesday.
While serving as treasurer, Cohn was implicated in a criminal investigation. Masseuse Yuritsi Garcia, 26, allegedly stole his iPad after a massage at Cohn’s Hermosa residence. According to police reports, Garcia and her boyfriend, Gustavo Ceron, 29, attempted to extort money from Cohn in exchange for deleting the contents of the tablet. Garcia also told authorities that Cohn tried to have sex with her during the massage and she refused.
Cohn denied any wrongdoing and said that he was a merely a victim.
Council members urged Cohn to step aside and allow city staff to temporarily handle his duties while the investigation continued. Despite the plea, he continued as treasurer, insisting that the crime had nothing to do with his duties and no city documents were accessed on the iPad.
On Tuesday, council members also voted to clarify any ambiguity about what the next treasurer’s responsibilities would be in the future.
“However we define the role of our next treasurer there needs to be some consistent understanding… otherwise we’re bound to repeat the same frustrations and incorrect expectations with the seated or future seated treasurer,” said council member Michael DiVirgilio. “The one person that seemed to actually understand the position was Mr. Workman.” ER
