The four men, convicted of bilking the state and federal government of tens of millions of dollars, were prominent members of New Square, a reclusive Rockland County village. The village leaders' aggressive courting of the president and Mrs. Clinton before and after the 2000 Senate election raised questions of whether the men's sentences were reduced in exchange for votes.

''The investigation was closed because we thoroughly investigated and determined it wasn't appropriate to bring charges against anybody in the case,'' Mr. Comey said at a news conference on an unrelated case. ''I can't really go into it because it was an investigation that didn't result in charges. That may be a frustrating answer, but that's the one I'm compelled to give.''

Mrs. Clinton, who had denied any improprieties, would not comment.

Mr. Clinton was quoted by The Associated Press as saying: ''I'm certainly not surprised. There was never any reason to believe anybody had done anything wrong, even in the first place. So I'm not surprised. I think the facts speak for themselves.''

A spokeswoman for Mr. Clinton said he would have no further comment.

In the investigation, Rockland County Democratic Party records were seized and politicians and community members testified before a grand jury. Prosecutors never disclosed what crime they suspected, but legal experts said possibilities included bribery or some kind of voter fraud.

The four New Square men were convicted in 1999 of bilking government aid programs and funneling the money back to the yeshiva in their community of 7,000 people, about 30 miles northwest of Manhattan. Mr. Clinton reduced by several months the federal prison terms of the men, Benjamin Berger, David Goldstein, Kalmen Stern and Jacob Elbaum. They were released from prison this year.