Former WexTrust Capital COO Sentenced 262 Months in Prison for Real Estate Investment Fraud Scheme

   Two owners of WexTrust Capital LLC, a Chicago-based real-estate investment firm, were charged with using a Ponzi scheme to cheat investors. Now (Source: FBI) PREET BHARARA, the United States Attorney for the Southern District of New York, announced that 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.

According to the indictment and other documents previously filed in Manhattan federal court: From 2003 to 2008, WexTrust Capital was a globally diversified private equity company specializing in real estate investments and specialty finance opportunities. It was affiliated with several companies that had similar names, including WexTrust Securities, LLC, a broker-dealer registered with the United States Securities and Exchange Commission

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