Managed Services CEO Pleads Guilty to Fraud

The CEO of a managed service provider has pleaded guilty to stealing his employees' identities to secure loans for his failing computer firm, according to Newsday.

The executive, Compulinx Managed Services CEO Terrence Chalk, faces up to seven years in prison when he is sentenced on Dec. 2. Federal prosecutors said that between 2001 and 2006, he used others' names for $1 million in loans and credit card charges, Newsday reported.

Rather than sound the alarm with a bunch of FUD (fear, uncertainty and doubt) I'll offer this quick thought: Within every successful industry there are a few bad apples.

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