According to the US Attorney, Shalev rented a Dubai residence for $18,000/month, was photographed with a $250,000 McLaren 650S, rented yachts, and paid for chauffeured limousines in Paris. Shalev is at the moment 36 years outdated. He had been a fugitive from justice even earlier than these fees. He fled the US in 2019 with three pending warrants towards him in New Jersey and New York. His fraud scheme towards the trade was carried out from overseas.
His alleged faux ISOs embody the names Silver Oak Capital Funding, LEM Enterprises, and SpBiz. Authorities obtained a spreadsheet of 27 funders he had compiled on his laptop that famous which of them he had already signed up with or “used and abused.”
Shalev is claimed to have decided which retailers had small enterprise loans and the approximate date during which the loans had been obtained by means of fundamental public UCC submitting knowledge. That was sufficient to contact these retailers and fake to be their lender of report and provoke step one of every rip-off.
In complete, prosecutors consider Shalev fraudulently obtained over $4 million from retailers and funders.
Shalev has made a request to be moved from jail to house detention. Prosecutors have argued, nonetheless, that he’s a traditional case of an imminent flight danger as a result of his dramatic abroad seize was a results of him having fled the regulation already
“If Shalev is released and flees the country again, it is very unlikely that the many small business owners and employees who suffered as a result of his criminal conduct will ever see justice,” they wrote.
Last modified: February 27, 2026