Terrence Chalk was freed on bail last month after spending more than a year in jail, according to court documents filed with the U.S. District Court in White Plains.
The former CEO of White Plains-based computer managed services company Compulinx was arrested in October 2006 by FBI agents at his White Plains home.
Chalk”™s bail was set at $100,000, and securing $10,000 in cash up front and having two other people agree to be responsible for the rest of the money could release him from jail.
According to court documents, federal prosecutors allowed an application filed by Chalk”™s attorney, May Bartlett, and two co-signors along with the $10,000 deposit to free Chalk on special conditions.
Chalk was ordered to surrender all travel documents and be put under “strict pretrial supervision,” wrote Judge Stephen C. Robsinson.
Chalk was also limited to travel between the Southern District of New York and Eastern District of New York only.
Chalk was also ordered not to seek or maintain any loans, credit, lines of credit either individually, jointly or as part of any corporate party.
The U.S. Attorney”™s Office, which is prosecuting the case, alleges Chalk applied for loans, lines of credit and credit cards using his employees”™ information without their knowledge.
Some of these loan applications misrepresented the employees as guarantors of the loan and as owners and officers of various Chalk entities, according to federal agents.
Chalk is charged with conspiracy, six counts of making false statements to a financial institution and credit card fraud.
Chalk”™s nephew, Damon Chalk, a former Compulinx employee who was also arrested at the same time, faces the same conspiracy and false-statement charges as his uncle, though not the fraud charge.
In February 2006, Chalk received a lifetime achievement award, being inducted into the Westchester County Business Hall of Fame.
