Two former top executives of FTE Networks Inc., which was a builder of telecommunications systems and invested in residential real estate, face charges that they schemed to inflate the value of the company’s shares and steal corporate funds.
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. The charges include conspiracy, securities fraud and wire fraud in an indictment unsealed Thursday in Manhattan federal court.
The Securities and ...
