Former Compulinx Chairman and CEO Terrence Chalk has been in jail for more than a year since his arrest by federal agents last October in White Plains, and his most recent bail application has been denied.
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 from jail.
However, an application filed Oct. 31 by Chalk”™s attorney, Mayo Bartlett, with two potential co-signors for Chalk”™s bail, was denied by Judge Stephen C. Robinson in U.S. District Court in White Plains on Nov. 5, according to documents filed with the U.S. Court System.
According to court documents, one of the co-signors, Addriely Hernandez, referred to as ChalkӪs fianc̩e, was denied by the judge.
Chalk, 45, who owned the White Plains-based computer managed-services company, was arrested by FBI agents in October 2006 along with his nephew, Damon T. Chalk, also a former employee of Compulinx.
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.
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. Damon Chalk has been free on bail since March, according to court documents.
Â
Â
