Two Defendants Charged With Orchestrating $2 Million Loan Fraud Scheme

Press Release Two Defendants Charged With Orchestrating $2 Million Loan Fraud Scheme Tuesday, April 9, 2024 Share FacebookLinks to other government and non-government sites will typically appear with the “external link” icon to indicate that you are leaving the Department of Justice website when you click the link. XLinks to other government and non-government sites will typically appear with the “external link” icon to indicate that you are leaving the Department of Justice website when you click the link. LinkedInLinks to other government and non-government sites will typically appear with the “external link” icon to indicate that you are leaving the Department of Justice website when you click the link. Email For Immediate Release U.S. Attorney's Office, Southern District of New York Damian Williams, the United States Attorney for the Southern District of New York, and Patrick J. Freaney, the Special Agent in Charge of the New York Field Office of the U.S. Secret Service (“USSS”), announced today the unsealing of an Indictment charging YISROEL HEBER, a/k/a “Scott Heber,” and YECHIEL MESHI-ZAHAV with running an advance-fee loan fraud scheme through which they defrauded dozens of victims of at least approximately $2 million. HEBER and MESHI-ZAHAV were arrested this morning and will be presented later today before U.S. District Judge Lewis A. Kaplan, to whom this case is assigned. U.S. Attorney Damian Williams said: “Yisroel Heber and Yechiel Meshi-Zahav allegedly brazenly siphoned funds from the bank accounts of dozens of victims after fraudulently inducing them to provide their bank details. Herberand Meshi-Zahav’s victims thought they were securing loans, but instead they were robbed of large sums of cash. No matter the complexity of the scheme or size of the loss amount, this Office will relentlessly investigate fraudsters who dare to illicitly line their own pockets by victimizing others.” USSS Special Agent in Charge Patrick J. Freaney said: “These individuals allegedly garnered the trust of victims by posing as lending companies, only to turn around and steal millions from them. This kind of fraudulent activity has a very real impact on people’s lives, and the Secret Service appreciates our partnership with the U.S. Attorney’s Office for the Southern District of New York as we work together to deliver justice for these victims.” According to the allegations contained in the Indictment:[1] From at least in or about March 2021 through at least in or about December 2021, YISROEL HEBER and YECHIEL MESHI-ZAHAV participated in an advance-fee loan fraud scheme that defrauded dozens of victims of at least approximately $2 million. HEBER and MESHI-ZAHAV operated this fraudulent scheme through purported lending companies called Blue Ribbon Funding, Tru Capital Funding, Fund Capital LLC, a/k/a “Fund Cap LLC,” and Ameriquest Capital (collectively, the “Fraudulent Lenders”). During the course of the scheme, HEBER and MESHI-ZAHAV, through their control of the Fraudulent Lenders, induced victims to provide their bank account information in order to make payments related to loans that the Fraudulent Lenders promised to issue to the victims. Instead, however, HEBER and MESHI-ZAHAV defrauded the victims by withdrawing thousands of dollars from each of the victims’ bank accounts without issuing the promised loans. * * * HEBER, 43, of Kings Point, New York, and MESHI-ZAHAV, 32, of Valley Stream, New York, are each charged with one count of conspiracy to commit wire fraud, which carries a maximum sentence of 20 years in prison. The maximum potential penalty is prescribed by Congress and is provided here for informational purposes only, as any sentencing of the defendants will be determined by the judge. Mr. Williams praised the outstanding investigative work of the USSS. This case is being handled by the Office’s General Crimes Unit. Assistant U.S. Attorney Alexandra S. Messiter is in charge of the prosecution. The charges contained in the Indictment are merely accusations, and the defendants are presumed innocent unless and until proven guilty. [1] As the introductory phrase signifies, the entirety of the text of the Indictment and the description of the Indictment set forth herein constitute only allegations, and every fact described should be treated as an allegation. Contact Nicholas Biase, Lauren Scarff, Shelby Wratchford (212) 637-2600 Updated April 9, 2024 Attachment U.S. v. Heber and Meshi-Zahav Indictment [PDF, 509 KB] Topic Financial Fraud Component USAO - New York, Southern Press Release Number: 24-122

Press Release Two Defendants Charged With Orchestrating $2 Million Loan Fraud Scheme Tuesday, April 9, 2024 Share FacebookLinks to other government and non-government sites will typically appear with the “external link” icon to indicate that you are leaving the Department of Justice website when you click the link. XLinks to other government and non-government sites will typically appear with the “external link” icon to indicate that you are leaving the Department of Justice website when you click the link. LinkedInLinks to other government and non-government sites will typically appear with the “external link” icon to indicate that you are leaving the Department of Justice website when you click the link. Email For Immediate Release U.S. Attorney's Office, Southern District of New York Damian Williams, the United States Attorney for the Southern District of New York, and Patrick J. Freaney, the Special Agent in Charge of the New York Field Office of the U.S. Secret Service (“USSS”), announced today the unsealing of an Indictment charging YISROEL HEBER, a/k/a “Scott Heber,” and YECHIEL MESHI-ZAHAV with running an advance-fee loan fraud scheme through which they defrauded dozens of victims of at least approximately $2 million. HEBER and MESHI-ZAHAV were arrested this morning and will be presented later today before U.S. District Judge Lewis A. Kaplan, to whom this case is assigned. U.S. Attorney Damian Williams said: “Yisroel Heber and Yechiel Meshi-Zahav allegedly brazenly siphoned funds from the bank accounts of dozens of victims after fraudulently inducing them to provide their bank details. Herberand Meshi-Zahav’s victims thought they were securing loans, but instead they were robbed of large sums of cash. No matter the complexity of the scheme or size of the loss amount, this Office will relentlessly investigate fraudsters who dare to illicitly line their own pockets by victimizing others.” USSS Special Agent in Charge Patrick J. Freaney said: “These individuals allegedly garnered the trust of victims by posing as lending companies, only to turn around and steal millions from them. This kind of fraudulent activity has a very real impact on people’s lives, and the Secret Service appreciates our partnership with the U.S. Attorney’s Office for the Southern District of New York as we work together to deliver justice for these victims.” According to the allegations contained in the Indictment:[1] From at least in or about March 2021 through at least in or about December 2021, YISROEL HEBER and YECHIEL MESHI-ZAHAV participated in an advance-fee loan fraud scheme that defrauded dozens of victims of at least approximately $2 million. HEBER and MESHI-ZAHAV operated this fraudulent scheme through purported lending companies called Blue Ribbon Funding, Tru Capital Funding, Fund Capital LLC, a/k/a “Fund Cap LLC,” and Ameriquest Capital (collectively, the “Fraudulent Lenders”). During the course of the scheme, HEBER and MESHI-ZAHAV, through their control of the Fraudulent Lenders, induced victims to provide their bank account information in order to make payments related to loans that the Fraudulent Lenders promised to issue to the victims. Instead, however, HEBER and MESHI-ZAHAV defrauded the victims by withdrawing thousands of dollars from each of the victims’ bank accounts without issuing the promised loans. * * * HEBER, 43, of Kings Point, New York, and MESHI-ZAHAV, 32, of Valley Stream, New York, are each charged with one count of conspiracy to commit wire fraud, which carries a maximum sentence of 20 years in prison. The maximum potential penalty is prescribed by Congress and is provided here for informational purposes only, as any sentencing of the defendants will be determined by the judge. Mr. Williams praised the outstanding investigative work of the USSS. This case is being handled by the Office’s General Crimes Unit. Assistant U.S. Attorney Alexandra S. Messiter is in charge of the prosecution. The charges contained in the Indictment are merely accusations, and the defendants are presumed innocent unless and until proven guilty. [1] As the introductory phrase signifies, the entirety of the text of the Indictment and the description of the Indictment set forth herein constitute only allegations, and every fact described should be treated as an allegation. Contact Nicholas Biase, Lauren Scarff, Shelby Wratchford (212) 637-2600 Updated April 9, 2024 Attachment U.S. v. Heber and Meshi-Zahav Indictment [PDF, 509 KB] Topic Financial Fraud Component USAO - New York, Southern Press Release Number: 24-122