Name and Shame
Name and Shame

TERRENCE CHALK REVIEW

Complaint
#5YDPO

This complaint was posted on NAS on 6th Jan, 2021 and is a permanent record located here: https://www.nameandshame.com/terrence-chalk-5YCVU/securities-fraud-busted-by-sec-id5ydpo .

NameandShame Author
Stocks & Bonds News
4th Jan, 2021

Securities Fraud Busted By SEC

Today, The Smart Investor Feed brings you another morally reprehensible fraud.


Terrence Chalk has been seized/arrested by the U.S. Securities And Exchange Commission (SEC). Shocking right?


We weren’t expecting this as well, but these scammers are getting smarter by the minute, making it harder for us to identify.


Such swindlers seem to be booming in numbers lately. This case is kind of interesting, why don’t I show you why:

Full Report On Terrence Chalk

The Securities and Exchange Commission today charged an unregistered investment adviser, who allegedly concealed his criminal past, with defrauding his clients through the offer and sale of investments in a fictitious investment fund, and misappropriating a large portion of the funds raised.


According to the SEC's complaint, from 2017 to 2020, Terrence Chalk, of Passaic, New Jersey and Orlando, Florida, raised approximately $5 million for the fictitious fund from approximately 40 investors. The complaint alleges that Chalk, who was previously convicted of identity theft and bank fraud, used the alias "Dr. Terrence Cash" to conceal his identity and criminal past from investors and held himself out as a successful investment adviser and the chairman and founder of a network of entities he referred to as "Greenlight." The complaint further alleges that Chalk promised investors a regular dividend of no less than 12% per year and advised his clients to transfer their existing retirement accounts and other savings to newly established accounts at a self-directed IRA custodian in order to invest in the fictitious fund. According to the complaint, instead of investing the funds as promised, Chalk and entities he controlled, including Greenlight Advantage Group Inc. and Greenlight Investment Partners Inc., misappropriated the vast majority of invested capital, with Chalk using more than $700,000 to pay personal expenses. As alleged, to perpetuate and conceal the fraud, Chalk and the Greenlight entities also used approximately $1.8 million of investor money to make purported dividend payments to prior investors in Ponzi-like fashion.


In a parallel action, the U.S. Attorney's Office for the Southern District of New York earlier today filed criminal charges against Chalk.


The SEC's complaint, filed in U.S. District Court for the Southern District of New York, charges Chalk, Greenlight Business Solutions Inc., Greenlight Consulting Corp., Greenlight Advantage Group Inc., and Greenlight Investment Partners Inc. with violations of the antifraud provisions of Section 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder. The complaint also charges Chalk, Greenlight Business Solutions Inc., and Greenlight Consulting Corp. with violating the securities registration provisions of Sections 5(a) and 5(c) of the Securities Act, and charges Chalk with violations of the antifraud provisions of Sections 206(1) and 206(2) of the Investment Advisers Act of 1940 and the control person provisions of Section 20(a) of the Exchange Act. The SEC seeks injunctive relief, civil penalties, and disgorgement of ill-gotten gains plus prejudgment interest.


The SEC's Office of Investor Education and Advocacy encourages investors to ask questions before investing and to review investor alerts, including those on Ponzi scheme red flags and Questions to Ask When Hiring an Investment Professional. Additional information is available on Investor.gov and sec.gov.



Conclusion: Terrence Chalk Is A Fraud

The report on SEC clearly suggests that Terrence Chalk never had any intentions to do honest business or provide helpful services. Main intention behind all their actions was to take advantage of the honesty & gullibility of people and scam them. It would be an understatement to call this a mere fraud, this one is a scandal.


If you feel like you are a victim of this scam, then I recommend contacting a law firm and consulting with them about a lawsuit. Companies & firms pay huge reprimands to settle serious lawsuits.

Help Us Fight These Criminals

Do you have evidence against Terrence Chalk or one of their associates, then please post it here. These criminals rely on their witnesses’ & victims’ silence, if you speak up, then they get exposed and punished for their horrific acts. I started The Smart Investor Feed on this site with only one purpose; to become a nightmare for the financial frauds in the country. I try to post often, so you can bookmark my profile for regular updates on frauds & con-artists.


Full Disclosure: We sourced this piece of information from the SEC database


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