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 indictment charging ANTHONY SIROTKA, the former chief administrative officer of a FTE Networks, Inc. (“FTE”), along with the company’s former chief executive officer, Michael Palleschi and former chief financial officer, David Lethem, with conspiracy, securities fraud, wire fraud, improperly influencing the conduct of an audit and aggravated identity theft. These charges stem from a years-long scheme to inflate FTE’s revenue and to conceal liabilities and expenses. SIROTKA was arrested this morning and was presented today in Manhattan federal court. Palleschi and Lethem were previously arrested based on an indictment charging them with the same crimes.
U.S. Attorney Damian Williams said: “As alleged, Anthony Sirotka conspired with his co-defendants to lure investors with false claims about FTE’s financial condition and to make the company appear more profitable than it was. Sirotka helped to deceive FTE’s auditors and the investing public, and now faces serious criminal charges for his alleged conduct.”
According to the allegations in Indictment unsealed today in Manhattan federal court:[1]
FTE was a telecommunications company based in Naples, Florida and Manhattan. As of December 2017, its stock traded on the NYSE American market....
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