WexTrust Capital

SEC bans former officer at WexTrust from industry

Mon, 03 Oct 2011 20:03:33 -0400

A former officer of WexTrust Capital who cooperated with federal investigations into the company and two other officers has been barred from the securities industry for defrauding the firm's investors.

WexTrust fraudster Shereshevsky gets nearly 22 years

Chris.Dinsmore — Mon, 18 Jul 2011 16:26:51 -0400

U.S. Circuit Judge Denny Chin sentenced Joseph Shereshevsky on Monday to the maximum term recommended in his plea agreement for fraud - 21 years and 10 months in federal prison. //

Chin said Shereshevsky prolonged the case against him and displayed no remorse until Monday's hearing in a Manhattan federal court.

Judgment day approaches for WexTrust fraudster

Tom.Justice — Sat, 16 Jul 2011 16:47:22 -0400

Nearly three years after Joseph Shereshevsky was arrested at his Norfolk home on charges of bilking investors, some of his victims say they’ve tried to forget about the losses they suffered.

“I had to get on with my life. The losses are lost,” said Stewart Smokler, a Virginia Beach retiree who made a handful of investments with Shereshevsky.

Wextrust receiver: IRS may tax away much of estate

Thu, 10 Mar 2011 23:44:12 -0500

By Tom Shean The Virginian-Pilot The receiver seeking to recoup investor funds from WexTrust Capital and its affiliates said in a court filing that his work is threatened by the way the IRS may choose to tax the WexTrust estate.

WexTrust fraud victims surprised by ex-exec's guilty plea

lauren.king — Fri, 04 Feb 2011 12:04:53 -0500

Victims of investment firm WexTrust Capital reacted with surprise Friday to the guilty plea of its former chief operating officer, Joseph Shereshevsky, to three felony counts of securities fraud, mail fraud and conspiracy. "I was shocked," said Patti Robertson, a Virginia Beach resident who had invested in some of WexTrust's offerings.

Ex-WexTrust Capital CEO pleads guilty to securities fraud

Cindy.Clayton — Tue, 13 Apr 2010 13:29:29 -0400

In an agreement with federal prosecutors, the founder and former CEO of WexTrust Capital pleaded guilty Tuesday in U.S. District Court in Manhattan to securities fraud, mail fraud, wire fraud and conspiracy.

$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.