A former White Plains fraudster who concealed his name and criminal record to defraud 40 investors of $5 million has consented to U.S. Securities and Exchange Commission sanctions.
Terrence Chalk agreed on Feb. 27 to disgorge more than $1.7 million in ill-gotten gains, according to a consent judgment filed on April 14 in U.S. District Court, White Plains.
Chalk “invested only a fraction of investor’s money in a handful of unprofitable business ventures and used the rest for his personal expenses,” the SEC states in an April 27 press release announcing the consent judgment.
In 2001, Chalk founded Compulinx Management Services, a computer services business in White Plains. When the company began experiencing financial difficulties, he used personal identity information of employes and clients to portray them as guarantors in applications for loans, lines of credit, and credit cards. He even tried to obtain a loan by using the personal information of a dead relative.
Chalk was arrested in 2006, eventually pleaded guilty to identity theft and conspiracy to make false statements to financial institutions. He was sentenced to 76 months in prison, released in 2012 and released from probation in 2015.
Around 2016, he set up shop in Florida as Greenlight Business Solutions Inc. and other variations of the Greenlight name.
He billed himself as a “seasoned entrepreneur, accredited private investor, coach, author, and philanthropist with over 25 years of experience and success in business,” according to a court record. He claimed he had retired after selling his computer company for $18 million in 2006 and subsequently (while in prison) earned tens of millions of dollars as a professional investor.
He charged coaching fees from $4,000 to $20,000 a year. In 2017, he began steering clients to a fictitious “Chairman’s Fund,” with assurances that they would make no less than 12% and as much as 77% in annual dividends.
Forty people invested about $5 million. He applied about $1.2 million – less than one-fourth of the investments – to mostly unprofitable ventures such as a failed trucking company and a cannabinoid business.
He used about $1.8 million to pay dividends in Ponzi-like fashion by using new investor money to pay previous investors, and thereby conceal and perpetuate the fraud. He used about $700,000 for personal expenses such as luxury car payments, jewelry, a swimming pool, a Bahamas vacation, and NBA season tickets.
A crucial component of the scheme, according to the government, was concealing his name so that investors would not discover his criminal record in White Plains.
He called himself Dr. Terrence Cash.
Eventually, dividends were not paid and some investors discovered his true name. When they demanded to redeem their investments, Chalk threatened to sue them for defamation.
The SEC filed civil and criminal charges in 2020. He pleaded guilty to investment advisor fraud, and in June 2025 he was sentenced to 36 months in prison and ordered to pay $3.7 million in restitution to his victims. The civil case was settled with the April 14 consent agreement.
Now Terrence Chalk, 63, aka Dr Terrence Cash, is imprisoned in a federal medical center in Springfield, Missouri. He is scheduled for release in March 2028.
