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Authorities Seize $1M in Teaneck Loan Shark Probe, Report Says

Victims included small businesses and the unemployed, according to official.

 

Investigators have seized $1 million and identified 13 victims in the probe of a Teaneck-based businessman accused of running a loan scheme, according to authorities and a published report.

Amir Landsman, 45, the owner of H Capital, was arrested Tuesday morning in Englewood on his way to work at the Glenpointe office complex, authorities have said. He allegedly assessed borrowers as much as 150 percent in annual interest and was charged with one count of criminal usury. 

Landsman scammed businesses around Bergen County, including many in the immigrant community, the prosecutor's office said after his arrest. Victims also included the unemployed and small businesses owners, NorthJersey.com reported.

"He would prey on people who, for financial reasons or otherwise, found it impractical or impossible to seek traditional bank lending," Bergen County Prosecutor John L. Molinelli said in the report. 

Investigators know who collected for Landsman, but that person has not been charged in the case. 

"He used someone to pick up the payments. We are still investigating if threats were involved," Molinelli wrote in an e-mail. 

The $1 million reportedly seized was used as cash reserve for loans in the alleged schemed. Authorities said they first found $100,000 in cash during searches at Landsman's home and office. 

Landsman, of Upper Nyack, N.Y., was released on $150,000 bail Wednesday, according to jail records. He could not be reached for comment Thursday. 

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Related Topics: Amir Landsman and Crime

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