WexTrust Capital

$5M in payments set for WexTrust investors, others

Wed, 23 Dec 2009 23:02:29 -0500

A federal judge has authorized the distribution of $5 million in WexTrust Capital assets to investors and creditors of the company whose chief operating officer and CEO face securities fraud charges.

WexTrust case receiver seeks return of funds

Sat, 05 Sep 2009 23:11:35 -0400

The court-appointed receiver in the WexTrust Capital fraud case may be seeking the return of money from an Orthodox Jewish congregation in Norfolk and a Virginia Beach law firm. In an August report to the federal court in Manhattan, receiver Timothy Coleman said he "has made formal written demands on 30 parties for payment in connection with various claims."

Federal judge rules WexTrust civil suit can proceed

Mon, 13 Jul 2009 22:18:10 -0400

The Securities and Exchange Commission can continue with its fraud complaint against a former officer of WexTrust Capital while prosecutors pursue a criminal case against the Norfolk resident, a federal judge said.

Ex-WexTrust exec seeks to suspend SEC suit

Mon, 06 Jul 2009 20:08:43 -0400

A Norfolk resident and former chief operating officer of WexTrust Capital is asking the federal court in Manhattan to temporarily suspend a civil suit brought by the Securities and Exchange Commission while he defends himself against criminal allegations of securities fraud.

Taken with his charm, investors saw money vanish

Sat, 27 Jun 2009 22:09:49 -0400

Joseph Shereshevsky is a schlub who worked hard to come off as a mensch. Turns out, he might be a ganif who ripped off many in his greater mishpuchah. He went by Yossi. Shereshevsky came to Hampton Roads 10 years ago, telling some that he wanted to put an unsavory past behind him.

Filing aims to cut WexTrust finders' fees

Thu, 14 May 2009 21:25:33 -0400

WexTrust Capital employees and others who received commissions for bringing funds to the company should receive sharply reduced amounts from the WexTrust assets being recovered, a court-appointed receiver said in a court filing.

Ex-WexTrust COO fails to get bail down from $10M

Tue, 28 Apr 2009 22:53:25 -0400

Joseph Shereshevsky, a Norfolk investment manager being detained in New York City on charges of securities fraud, must remain in custody until he posts $10 million bail, a federal judge determined Tuesday. In a filing with the U.S. District Court in Manhattan last month, Shereshevsky asked that the amount be cut to $5 million and that other bail conditions be eased.

Falling real estate prime WexTrust investors for losses

Thu, 23 Apr 2009 23:35:26 -0400

CHESAPEAKE The receiver responsible for managing WexTrust Capital cautioned Thursday that investors in the crippled company's projects might be disappointed with the amounts they eventually recover.

Firm marketing commercial properties tied to WexTrust

Cindy.Clayton — Thu, 16 Apr 2009 10:36:47 -0400

A real estate advisory firm has begun marketing 33 office buildings, warehouses and other commercial properties tied to WexTrust Capital, a Chicago-based investment firm charged with bilking its investors.

Shereshevsky seeks easing of court's bail requirements

Wed, 15 Apr 2009 23:11:08 -0400

A federal court in Manhattan has agreed to consider less-stringent bail requirements for Joseph Shereshevsky, a Norfolk resident detained on federal charges of bilking investors through a Ponzi-like investment scheme. Shereshevsky is seeking a reduction in the bail amount from $10 million to $5 million and other changes in the court's bail provisions.