RSS Feed
Norfolk, VA - WexTrust Owner's Wife Added To List Of Defendants |
Sponsored By:
|
Text Size
|
Norfolk, VA - The Securities and Exchange Commission added the wife of a WexTrust Capital owner to its list of defendants in a complaint of securities fraud by WexTrust and two of the investment firm's owners.
In an amended complaint filed in federal court in Manhattan, the SEC named Elka Shereshevsky of Norfolk as a relief defendant, someone who received ill-gotten assets through the actions of a named defendant.
Her husband, Joseph Shereshevsky of Norfolk, is an owner of WexTrust and one of the defendants named in the SEC's initial complaint, filed Aug. 11.
At the SEC's request, the court ordered that Elka Shereshevsky's assets be frozen.
"She received money from WexTrust operations and from her husband that she shouldn't have received," said Andrew Calamari, the SEC's associate regional director in Manhattan.
The regulatory agency had already obtained court orders that froze the assets of her husband and other defendants.
The SEC contends that Joseph Shereshevsky, Steven Byers of Oak Brook, Ill., their Chicago-based firm, and four WexTrust affiliates defrauded investors by diverting $100 million of funds for unauthorized purposes. Some of the money, was used to pay investors in earlier projects and for company and personal expenses.
Michael Bachner, a New York attorney representing Elka Shereshevsky, said that his client consented to the court's temporary freeze of her assets.
"We are going to be able to demonstrate that some of the assets frozen were clearly unrelated to investor monies," said Bachner, a specialist in securities and white-collar criminal cases. "If we cannot amicably resolve the property issue, our intention is to litigate it."
Elka Shereshevsky, owns a 20 percent stake in WexTrust through the Shereshevsky Family Partnership and is general partner of the partnership. She also is employed by WexTrust Securities, the brokerage firm-affiliate of WexTrust Capital, the complaint said.
Total13
Read Comments (13) — Post Yours »
1
Aug 30, 2008 at 09:59 PM I just hope Says:
Sure. Blame the wife
2
Aug 30, 2008 at 10:46 PM Suckered investor Says:
Whoa!!! Are you kidding? The guy bought 5 houses
with stolen money and put it in her name and she did not know?? Come on.
3
Aug 30, 2008 at 10:50 PM Anonymous Says:
chilul hashem is the word
4
Aug 30, 2008 at 11:26 PM HUH? Says:
Unfortunately, not first nor last Chilul Hashem.
5
Aug 30, 2008 at 11:40 PM Nebach Says:
they always do it when the guy dosent want to "cut a deal", its done to "squeeze" him! they tell him you cut a deal and your wife will walk, or we will go to trial and put you both away and who will take care of your kids!
the wife did nothing wrong! yes he put five houses in her name but she figured he was rich!
6
Aug 30, 2008 at 11:47 PM AuthenticSatmar Says:
When Rabbi Balkany was arrested, everyone was screaming chilul hashem. When he was found not guilty of all charges, did anyone apologize for the chilul hashem caused by frum jews publicly criticizing others.
The government has a weak case, and by naming his wife they are trying to pressure him to plead guilty and avoid trial - at which he will probably be found not guilty.
This is a tactic used succesfully by the govt on many occasions.
7
Aug 31, 2008 at 12:31 AM political analyst Says:
not sure what balkany has to do with this. his wife was never named & he also never went to trial, he cut a deal, there's a big difference, although you're probably right, government did have a weak case.
back to wextrust, his wife owns a 20% stake of the company, so assuming the allegations are true, what the government is doing seems reasonable. it seems the intention here is to freese her assets, not prosecute her.
it's a big nebach for all those involved, defendants, investors, & company employees alike.
8
Aug 31, 2008 at 10:53 AM Lev Nishbar Says:
There's is a old fact that when two people argue you have to listen to THREE SIDES - the two parties involved and the truth. Dear comentators you don't even know one side never mind the truth, so why talk and busy yourself with others? are you clean? if chas v'culila you would be invited to ah audit, you would want bais din to be goizer taanis! why? I thought you are clean? The same limud zecus that you have for yourself have for others!!!!! have a little ahavas yisruel and hevei dun es kol hu'udom lekaf zecus! it's only a song it is a MAAMAR CHAZAL
9
Aug 31, 2008 at 01:36 PM Lev Nishbar Says:
CORRECTION
Hevei dun es kol hu'udom lekaf zecus! is NOT only a song, it is a MA'AMAR CHAZAL!!!
10
Aug 31, 2008 at 02:56 PM Anonymous Says:
YOU DON'T 'DUN LE'KOF ZECUS' A 'SHOR MOO'AD' AND THIS IS THIS CASE.
11
Aug 31, 2008 at 09:33 PM bigwheeel Says:
Nebach 11:40PM says; ...The wife didn't know... ...Yes, she thought her husband won it all at poker! Or, he won the Mega Million Dollar Lottery! I used to know a [former] bank robber, who bought his wife tons of Jewelry, [with stolen money]! The wife was very obliging! She accepted all the gifts graciously! (never questioning her husband where he got all this wealth!)
12
Sep 01, 2008 at 01:46 PM Herbal Life Says:
What a bunch of phonies!
13
Sep 01, 2008 at 07:17 PM Egghead Says:
AuthenticSatmar: A weak case??? The criminal complaint references taped discussions in which Byers, Shereshevsky & Cohen furthered the ongoing conspiracy to hide the theft of 9.2 million in the GSA fraud. It doesn't get any easier than to prove who owns a real estate asset.....and it's not WexTrust or any affiliate(s). In fact, current property owners had never heard of Byers, Shereshevsky, or Wextrust. Therefore they defrauded investors out of the 9 million taken for GSA.
Weak case???Emails included in the criminal and civil complaints evidence various wrongdoing, some of it criminally so, that don't even touch the surface of what they can discover after a thorough email review.
Only uncertain things are how much they stole, what is recoverable, how many people will be hurt and how badly.