Westchester Businessman Pleads Guilty To Conspiracy

The United States Attorney for the Southern District of New York, Preet Bharara released a statement regarding the guilty plea of Westchester businessman Selim Zherka, of Somers, under the charge of conspiring to make false statements to a bank to receive millions in loans and file false tax returns. Zherka will also forfeit $5.25 million in illegal earnings. According to federal court documents, he had conspired with others to lie about the price of apartment complexes he was acquiring in Tennessee as well as the total down payment in order to bilk $63.5 million in loans form Sovereign Bank. Zherka had also engaged in submitting fraudulent tax returns over a five-year period with misinformation of depreciation expenses and understating capital gains of the Tennessee property. Sentencing is scheduled for December 22 at 10 a.m. with a maximum of five years in prison.

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