Suffolk County Police

Sophia Hall/WCBS 880

LI Man Accused Of Scamming Small Business Owners, Defrauding Dozens

June 12, 2019 - 5:23 pm
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FARMINGDALE, N.Y. (WCBS 880) — A Long Island man is accused of scamming small business owners by promising loans, but instead stealing millions of dollars.

According to Suffolk County District Attorney Tim Sini, the scam did not only involve victims on Long Island, but also Colorado Texas California and Washington.

Sini says Demetrious Boudorakis is accused of using information on the dark web to find out the owners of companies who were denied loans.

He allegedly contacted them claiming he could help – all they had to do was first give him the interest  amount for the loan – and then they would receive the rest.

Sini says he took more than $2 million from people and never paid out any loans.

“You’re a small business, you're trying to get your operation off the ground. A major bank, or a major lender, denies you the small business loan that you need because you don't have credit history or you have bad credit, or whatever the case may be and then someone comes along and they call you – you don't think necessarily something suspect, right,” Sini said. “We all know how this works, you apply for credit card and the next couple you’re getting a million calls from these bank, so it's not necessarily suspect.”

All together there are 35 victims. If convicted the Farmingdale man faces 40 years in prison.