New York State Attorney General Letitia James Convicts Phony Minority Biz in $3 million Loan Scheme – liherald.com

New York State Attorney General Letitia James
New York State Attorney General Letitia James
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By Jeff Bessen

Three men convicted in a $3 million loan fraud and money laundering scheme used their companies to steal money between October 2013 and April 2015, according to New York State Attorney General Letitia James.

Kenneth Martinez, 51, of Lawrence; Shai Sellam (a/k/a Sean Green), 45, from Woodmere; and Hayim Jacob Barkol (f/k/a Kadir Barkol), 39, of Brooklyn; and their respective companies, Metropolitan Enterprises Inc., New Route Resulting Inc. and Lifting Up Management LLC, were convicted in Suffolk County Court for also stealing more than $455,000 in taxes.

All the men and their companies were ordered to pay $1.5 million in restitution and judgments to financial institutions and the state. Martinez was sentenced to three to nine years in state prison on an Albany tax case and is expected to receive a concurrent term of three to nine years in state prison for the loan fraud on Oct. 17.

Sellam could be sentenced to two to six years in state prison on Aug. 20, 2020. Barkol is expected to be sentenced to five years of probation for his role in the scheme on Oct. 17.

“These fraudsters must now pay back stolen funds and cease their illegal operations,” James stated in a news release. “Let this be a lesson to every individual and company that we will never stop fighting against those who aim to defraud New Yorkers.”

Dubbed “Operation Skyfall” the investigation uncovered …

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