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1. www.sec.gov › files › litigationComplaint: Michael Palleschi and David Lethem - SEC.gov

   www.sec.gov › files › litigation

   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.

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3. www.sec.gov › enforcement-litigation › litigationSEC.gov | Michael Palleschi and David Lethem

   www.sec.gov › enforcement-litigation › litigation

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   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.

4. www.justice.gov › usao-sdny › prFormer CEO And CFO Of Public Telecommunications Company ...

   www.justice.gov › usao-sdny › pr

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   Jul 15, 2021 · FTE was a telecommunications company based in Naples, Florida and Manhattan. As of December 2017, its stock traded on the NYSE American market. From 2014 to 2019, PALLESCHI was the chairman of FTE’s Board of Directors and its Chief Executive Officer.

5. www.news-press.com › story › newsFort Myers, Naples FTE Networks telecom chiefs accused of ...

   www.news-press.com › story › news

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   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...

6. finance.yahoo.com › news › fte-networks-former-ceoFTE Networks' former CEO, CFO charged with fraud ...

   finance.yahoo.com › news › fte-networks-former-ceo

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   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...

7. www.securitieslawyer101.com › 2021 › sec-chargesSEC charges former CEO and CFO of FTE Networks, Inc with ...

   www.securitieslawyer101.com › 2021 › sec-charges

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   Jul 15, 2021 · Today, July 15, 2021, the Securities and Exchange Commission (the “SEC”) charged the former CEO and CFO of FTE Networks, Inc. (“FTE”), a network infrastructure company formerly based in Naples, Florida, with conducting a multi-year accounting fraud. The alleged scheme involved inflating the company’s revenues for certain periods by as ...

8. People also ask

   Did Palleschi & Lethem lie to FTE's auditors?

   • PALLESCHI and LETHEM lied repeatedly to FTE’s auditors by falsely denying that the company had issued convertible debt. In April 2018, LETHEM falsely denied to the auditors that FTE had issued two specific convertible notes.

   Former CEO And CFO Of Public Telecommunications Company Charge…

   www.justice.gov/usao-sdny/pr/former-ceo-and-cfo-public-telecommunications-company-charged-manhattan-federal-court

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   Are Palleschi & Lethem a quarterly or annual report?

   • As FTE’s CEO and CFO respectively, Palleschi and Lethem were quarterly and annual reports. At all times relevant to this Complaint, publicly filed. He certified, among other things, that each report: (a) did not all material respects, the financial condition of FTE for that period.

   Complaint: Michael Palleschi and David Lethem - SEC.gov

   www.sec.gov/files/litigation/complaints/2021/comp-pr2021-127.pdf

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   Did Palleschi and Lethem violate the Securities Act?

   • From early 2016 through January 2019, Palleschi and Lethem, in the offer and sale of securities, by the use of means or instruments of securities. 71. By reason of the foregoing, Palleschi and Lethem violated, and, the Securities Act [15 U.S.C. § 77q(a)(3)]. 72. The incorporates them by reference. 73.

   Complaint: Michael Palleschi and David Lethem - SEC.gov

   www.sec.gov/files/litigation/complaints/2021/comp-pr2021-127.pdf

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   Did Palleschi violate the Sarbanes-Oxley Act?

   • By reason of the foregoing, Palleschi violated, and, unless enjoined, thereunder [17 C.F.R. § 240.14a-9]. VI. Relief Requested Complaint. courses of conduct alleged in this Complaint. Section 21(d) of the Exchange Act, 15 U.S.C. § 78u(d). Act and Section 305(b)(5) of the Sarbanes-Oxley Act. Complaint under Section 304(a) of the Sarbanes-Oxley Act.

   Complaint: Michael Palleschi and David Lethem - SEC.gov

   www.sec.gov/files/litigation/complaints/2021/comp-pr2021-127.pdf

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9. kfgo.com › 2021/07/15 › fte-networks-former-ceo-cfoFTE Networks’ former CEO, CFO charged with fraud ... - KFGO

   kfgo.com › 2021/07/15 › fte-networks-former-ceo-cfo

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   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 conspiracy, U.S. Attorney Audrey Strauss in Manhattan said.