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Jul 15, 2021 · From 2014 to 2019, PALLESCHI was the chairman of FTE’s Board of Directors and its Chief Executive Officer. LETHEM served as FTE’s Chief Financial Officer from 2014 through 2019. Fraud with Respect to Convertible Notes.
Jun 2, 2022 · Third Former Executive Of Telecommunications Company Charged In Scheme To Defraud Investors. Damian Williams, the United States Attorney for the Southern District of New York, and Michael J. Driscoll, the Assistant Director-in-Charge of the New York Office of the Federal Bureau of Investigation (“FBI”), announced the unsealing of an ...
Jul 15, 2021 · Michael Palleschi and David Lethem, Case No. 2:21-cv-00530 (M.D. Fla. filed July 15, 2021) The Securities and Exchange Commission charged the former CEO and CFO of FTE Networks, Inc., a network infrastructure company formerly based in Naples, Florida, with conducting a multi-year accounting fraud.
early 2016 until January 2019, Defendants Michael Palleschi, FTE’s Chief Executive Officer, and David Lethem, FTE’s Chief Financial Officer, engaged in two schemes to fraudule ntly inflate FTE’s revenues and paint a false picture of the Company’s finances. Additionally, Palleschi and Lethem misappropriated millions of dollars. 2.
Jul 15, 2021 · Palleschi, a 46-year-old resident of Naples, Florida, was arrested Thursday morning in upstate New York, while Lethem, 62, was arrested in Florida. They are due to appear in separate...
Jul 15, 2021 · The SEC’s complaint charges Palleschi and Lethem with directly violating or aiding and abetting violations of antifraud, reporting, and proxy solicitation provisions of the securities laws.
Jul 15, 2021 · Former Chief Executive Michael Palleschi and former Chief Financial Officer David Lethem were each charged with securities and wire fraud, improperly influencing audits, identity theft and...
Jul 15, 2021 · Michael Palleschi, the former chief executive, and David Lethem, the ex-chief financial officer, were arrested and charged with fraud tied to the issuance of $22 million in notes to private lenders from 2016 to early 2019, prosecutors said.
Jul 16, 2021 · Former FTE Networks Inc Chief Executive Officer Michael Palleschi, 46, of Naples, and former FTE Networks Inc Chief Financial Officer David Lethem, 62, of Fort Myers, were arrested and charged...
Jul 15, 2021 · Former Chief Executive Michael Palleschi and former Chief Financial Officer David Lethem were each charged with securities and wire fraud, improperly influencing audits, identity theft and...
