Business Loan Broker “The Tyrant” Sentenced to at Least Five Years in Prison

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The owner of a Long Island business loan brokerage convicted of orchestrating an advance fee loan scheme, was sentenced to prison this week. The judge handed Demetrios Boudourakis five to ten years and ordered him to pay a total of $880,000 in restitution to victims.

Boudourakis solicited business owners for a loan and then charged them an upfront fee when no loan was actually forthcoming. He pled guilty in June to the charge of grand larceny in the 2nd degree.

Last modified: September 10, 2020

Category: Business Lending, Legal Briefs


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