(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.

Manhattan U.S. Attorney PREET BHARARA said: “Joseph Shereshevsky executed an intricate Ponzi scheme designed to swindle hundreds of investors out of millions of dollars. He was ultimately exposed for the con artist he is. Now he will pay for his fraud and join his co-defendant Steven Byers behind bars.”

Source: FBI

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