Back to jail for Chalk

The former CEO of Compulinx Managed Services Inc. remained in jail last week, his motion to be released on his own recognizance denied.
Terrence Chalk, 44, who owned the White Plains-based computer managed-services company, appeared in U.S. District Court June 26 with his attorney, May Bartlett, before U.S. District Judge Stephen C. Robinson for a pre-trial conference and bail review hearing.
Robinson told Chalk and his attorney that they may apply for a new bond proposal in the future, but that for now the previous bail conditions remained in effect.
According to the U.S. attorney”™s office, Chalk”™s bail is set at $250,000. Securing $10,000 in cash up front, and having two other people agree to be responsible for the rest of the money, can release him.
Robinson set the next pre-trial hearing for Sept. 27.
FBI agents arrested Chalk and his nephew, Damon T. Chalk, also a former employee of Compulinx, in October.
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 was taken into custody at the Westchester County Jail after his arrest, but a spokesman for the U.S. attorney”™s office would not confirm if he was still being held at the Valhalla jail or at another facility.
Chalk is being charged with conspiracy, six counts of making false statements to a financial institution, and credit card fraud.
He faces up to 165 years in federal prison and $5.5 million in fines if he is convicted on the federal charges.
Damon Chalk of Florida, also faces the same conspiracy and false-statement charges as his uncle, though not the fraud charge. Damon Chalk ”“ who worked for his uncle from 2003 through 2006, faces 35 years in prison and a $1.25 million fine if convicted.