updated 11/1/2006 9:38:13 PM ET 2006-11-02T02:38:13

A prominent Westchester businessman has been charged with stealing his employees’ identities to obtain more than $1 million in bank loans and credit card charges, prosecutors said.

Terrence Chalk, 44, the chief executive officer of Compulinx Managed Services of White Plains, was indicted along with his nephew, Damon Chalk, by a federal grand jury on charges of conspiracy, credit card fraud, and making false statements to banks.

Terrence Chalk pleaded not guilty in U.S. District Court on Tuesday, where U.S. Magistrate Judge George Yanthis ordered him held on $250,000 bond.

Terrence Chalk founded Compulinx, a computer management firm, in 1990. He is accused of using the names, addresses, and Social Security numbers of his employees to secure the bank loans between 2001 and 2006, prosecutors said. He also ran up $100,000 in credit card charges using their identities, they said.

Terrence Chalk and his company were inducted this year into the Hall of Fame by the Business Council of Westchester. He serves on the boards of the American Red Cross and Hospice and Palliative Care of Westchester.

Last year, Terrence Chalk was nominated to the White Plains Youth Bureau and was named businessperson of the year in February by the Westchester chapter of the Omega Psi Phi fraternity.

Chalk’s lawyer, Mayo Bartlett, said neither he nor his client wished to comment on the case.

Damon Chalk, 35, of Florida, was arrested by FBI agents Tuesday at LaGuardia Airport. He was ordered held without bail. The name of his lawyer could not be immediately determined.

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