Former CEO and President of Wextrust Capital Sentenced in Manhattan Federal Court to 160 Months in Prison for Real Estate Investment Fraud Scheme

April 12, 2011 – (RealEstateRama) — PREET BHARARA, the United States Attorney for the Southern District of New York, announced that STEVEN BYERS, the former president and chief executive officer of the private equity firm WexTrust Capital, LLC (“WexTrust Capital”), was sentenced today to 160 months in prison on charges stemming from a fraud that raised more than $9 million from investors in private placement real estate offerings. BYERS, 48, was sentenced in Manhattan federal court by U.S. Court of Appeals Judge DENNY CHIN.