New York Paralegal Blog

JOSEPH SHERESHEVSKY, a former Chief Operating Officer of the private equity firm WexTrust Capital, LLC (“WexTrust Capital”), was sentenced today to 262 months in prison on charges stemming from a fraud that raised more than $9 million from investors in private placement real estate offerings. SHERESHEVSKY, 54, was sentenced in Manhattan federal court by U.S. Court of Appeals Judge DENNY CHIN.

A man entered the bank, located at 8 Little East Neck Road, at approximately 3 p.m. and handed a teller a note demanding cash. The teller complied with the demand and the subject fled the scene on foot out of the bank’s back entrance and headed westbound.

Washington, D.C., July 15, 2011 – The Securities and Exchange Commission filed fraud charges Thursday against the CEO of a purported foreign currency trading firm, alleging he scammed hundreds of investors with false promises of high, fixed-rate returns while secretly using their money to fund his start-up alternative newspaper. Additional Materials

BOSTON—A California man was arrested this morning on federal charges that he defrauded investors out of more than $5 million. LYNDON LYDELL PARRILLA, 31, of Los Angeles, is charged with wire fraud arising out of the operation of Green Tree Capital. According to the complaint, Parrilla, through Green Tree, solicited more than $5 million from customers, purportedly for the purpose of trading in the foreign currency exchange (FOREX) market. It is alleged that Parrilla traded, at most, a small portion of customer funds in FOREX and instead spent most of it on personal expenses, including more than $950,000 at casinos and approximately $130,000 to purchase a car. Between October 2009 and February 2011, Parrilla also withdrew more than $2.1 million in cash from Green Tree customer accounts. During that same time period, Green Tree continued to e-mail account statements to customers purporting to show trading gains and losses. In many instances, the account statements showed that customers’...

Washington, D.C., April 5, 2011 – The Securities and Exchange Commission today announced that Wells Fargo Securities LLC agreed to settle charges that Wachovia Capital Markets LLC engaged in misconduct in the sale of two collateralized debt obligations (CDOs) tied to the performance of residential mortgage-backed securities as the U.S. housing market was beginning to show signs of distress in late 2006 and early 2007. The SEC’s order found that Wachovia Capital Markets violated the securities laws in two respects. First, Wachovia Capital Markets charged undisclosed excessive markups in the sale of certain preferred shares or equity of a CDO called Grand Avenue II to the Zuni Indian Tribe and an individual investor. As detailed in the order, Wachovia Capital Markets marked down $5.5 million of equity to 52.7 cents on the dollar after the deal closed and it was unable to find a buyer. Months later, the Zuni Indian Tribe and the individual investor paid 90 and 95 cents on the dollar. Un...

PREET BHARARA, the United States Attorney for the Southern District of New York, announced that STEPHEN R. GREEN, former Chairman and CEO of Mayfair Capital Group ("Mayfair Group") was sentenced today to 41 months in prison for committing securities fraud arising from his scheme to defraud investors of over $5.75 million for his own use. The sentence was imposed in Manhattan federal court by United States District Judge JOHN G. KOELTL. According to the criminal Information previously filed against GREEN, other documents filed in this case, and statements made during GREEN's plea proceeding: Between 2005 and 2009, GREEN made false representations to a number of investors (the "victim-investors") that he would invest their funds in limited partnership vehicles and/or an asset management company. Based on those false representations, GREEN defrauded the victim-investors of approximately $5.75 million. For instance, in late 2005, GREEN falsely repr...

PREET BHARARA, the United States Attorney for the Southern District of New York, and JOSEPH F. DEMAREST, JR., the Assistant Director-in-Charge of the New York Office of the Federal Bureau of Investigation ("FBI"), announced that STEPHEN R. GREEN, former Chairman and CEO of Mayfair Capital Group ("Mayfair Group") and former Founder and Chairman of NoonMark Advisors, LLC, which GREEN managed in Manhattan, pleaded guilty today to fraud charges related to his misappropriation of over $5.75 million from investors for his own use. GREEN, 46, of Locust Valley, New York, entered his guilty plea today before United States District Judge JOHN G. KOELTL in Manhattan federal court. According to the Information to which GREEN pleaded, the criminal Complaint previously filed in this case, and statements made during the guilty plea proceeding:

A federal grand jury in Brooklyn returned an indictment charging nine defendants with a mortgage fraud scheme that resulted in losses exceeding $90 million. The indictment alleges the defendants conspired to defraud Washington Mutual Bank (“WAMU”) and DLJ Mortgage Capital, Inc. (“DLJ”), a subsidiary of Credit Suisse, in connection with the development of two tracts of land located in Brooklyn and Queens by staging the sales of the same properties to straw buyers in order to obtain multiple mortgages on those properties. Thomas Kontogiannis, John Michael, Elias Apergis, Steven Martini, Nadia Konstantinadou, Stefan Deligiannis, Ted Doumazios, Edward Hogan, and Jonathan Rubin are charged with conspiracy to commit bank and wire fraud. In addition, Kontogiannis, Apergis, Konstantinadou, Deligiannis, Martini, and Doumazios are charged with bank fraud, and Kontogiannis and Konstantinadou are charged with money laundering and money laundering conspiracy.1 The indictment was announced by Bent...