Litigation Releases (Terrence Chalk)

U.S. SECURITIES AND EXCHANGE COMMISSION

Litigation Release No. 26540 / April 27, 2026

Securities and Exchange Commission v. Terrence Chalk, et al., No. 20-civ-9199-JGLC (S.D.N.Y. filed Nov. 3, 2020)

SEC Obtains Final Consent Judgment as to Investment Adviser for Allegedly Operating a Ponzi-like Offering Fraud

On April 15, 2026, the United States District Court for the Southern District of New York entered a final consent judgment against Terrence Chalk, of Passaic, New Jersey and Orlando, Florida, whom the SEC previously charged with operating a Ponzi-like offering fraud.

The SEC's complaint, filed on November 3, 2020, alleged that Chalk-a convicted felon who held himself out to be an investment adviser-conducted a fraudulent scheme in which he recommended, offered, and sold securities related to investments in a fictitious investment fund that he called the "Chairman's Fund." The complaint further alleged that Chalk used the alias "Dr. Terrence Cash" in an apparent effort to conceal his identity and criminal history while offering his services as a "financial coach." Between 2017 and 2020, Chalk, along with a group of entities he owned and controlled, are alleged to have fraudulently raised approximately $5 million from approximately 40 investors by selling investments in the Chairman's Fund by offering and selling securities in unregistered transactions. The complaint further alleges that, contrary to Chalk's representations to investors, he invested only a fraction of investors' money in a handful of unprofitable business ventures, and used the rest for his personal expenses (including the installation of a swimming pool at his home), and to make Ponzi-like payments to prior investors.

The final judgment enjoins Chalk from violating Sections 5(a), 5(c), and 17(a) of the Securities Act of 1933, Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder, and Sections 206(1) and 206(2) of the Investment Advisers Act of 1940, and orders Chalk liable for disgorgement of $1,731,423 and prejudgment interest of $13,078.64, with such amounts deemed satisfied by the restitution order entered against Chalk in United States v. Chalk, No. 21-cr-00049 (ALC) (S.D.N.Y.).

The SEC's investigation was conducted by Derek M. Schoenmann, Thomas Feretic, and Celeste Chase of the SEC's New York Regional Office. The SEC's litigation was led by Jack Kaufman and Mr. Schoenmann, and the case was supervised by Mark R. Sylvester.