Ex-WexTrust Exec Strikes SEC Deal Over $225M Plot

Law360, New York (June 21, 2011, 12:38 PM EDT) -- A former WexTrust Capital LLC executive who pled guilty in February to a $225 million Ponzi scheme reached a deal Monday with federal securities regulators in a related administrative action.

The U.S. Securities and Exchange Commission filed the action against Joseph Shereshevsky, the former chief operating officer of WexTrust, and announced the parties had struck a settlement the same day. Under the deal, Shereshevsky agreed to be barred from association with any broker, dealer, investment adviser, municipal securities adviser, municipal adviser, transfer agent or statistical rating...
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