New Criminal Charges For WexTrust Ponzi Schemers

Law360, New York (July 31, 2009, 6:00 PM EDT) -- The U.S. Attorney's Office has unveiled a new set of criminal charges against two former WexTrust Capital LLC executives accused of masterminding a Ponzi scheme that bilked over a thousand investors, mostly Orthodox Jews, of more than $250 million.

In a superseding indictment made public Friday in the U.S. District Court for the Southern District of New York, acting U.S. Attorney Lev Dassin charged the two men, WexTrust former CEO Steven Byers and former Chief Operating Officer Joseph Shereshevsky, with wire fraud, two counts of mail...
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