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Loan Shark Preyed on Immigrants, Prosecutor Says

Searches turn up $100,000 in cash, authorities say. Teaneck-based businessman faces charge.

 

A Teaneck-based businessman was charged Tuesday with running a loansharking scheme that preyed on area businesses, including many in the immigrant community. 

Authorities began investigating Amir Landsman in October after receiving word that he was offering loans to Bergen County business owners and charging an "excessive" amount of interest, Bergen County Prosecutor John L. Molinelli announced Wednesday. 

The probe revealed that Landsman, who owned and operated H Capital out of a Glenpointe office, was charging interest rates above what is legally allowed, according to Molinelli. 

"Additionally, the investigation revealed that a significant number of Landsman’s clients were members of the immigrant community," the prosecutor said in a statement. 

Investigators served search warrants at Landsman's Upper Nyack, N.Y., home and Teaneck office, turning up numerous financial documents, computers and more than $100,000 in cash, said Molinelli, who added the investigation was ongoing.  

Landsman, 45, was arrested in Englewood on his way to work Tuesday morning and charged with one count of criminal usury, authorities said. 

Jail records show he was released Wednesday after posting $150,000 bail. 

Molinelli credited Rockland County prosecutors and Teaneck police with helping in the investigation. 

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Related Topics: Crime

Alice Bennett

6:59 pm on Friday, March 22, 2013

It's not a loan shark. It's called cash advance, or factoring, and it's absolutely legal. Too bad Bergen County didn't do their research.

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