Shaul Shalev, a 36-year-old Israeli-American citizen, was extradited from Spain to the United States and brought to trial in Connecticut on charges of fraud and deception against dozens of small businesses and commercial banks. According to the indictment, Shalev, a resident of Dubai and formerly of Brooklyn, stole hundreds of thousands of dollars by posing as a financial broker while using stolen identities. He convinced businesses to refinance existing loans or take out new ones, then directed them to transfer the money to accounts under his control. In one case, he caused a financial institution in Connecticut to lend $343,000 to a car dealership in Ohio, transferring a significant portion of the amount to himself, including a $42,000 commission. Similar cases were documented in Indiana and Michigan. Shalev is charged with three counts of fraud, four counts of money laundering and two counts of aggravated identity theft, and faces lengthy prison sentences.
