Judge Orders Accused Scammer Saul Shalev to Remain in Jail During Trial

Saul Shalev, the individual accused of masterminding the small business finance industry’s long running mysterious fraud, had his motion to be released on home confinement while awaiting trial denied.

“As I explained on the record at the hearing, the following factors weighed in favor of Shalev’s detention: Shalev has previously fled the country when facing lesser charges in 2019, suggesting he may have more incentive to do so in this case, given the more serious penalties he faces. Although Shalev has strong family ties to New York, those ties were insufficient to keep him from fleeing the country previously, and insufficient to induce his return for more than six years. Moreover, Shalev did not return of his own volition but was apprehended on a vacation in Spain. At the time of his arrest in Spain, Shalev maintained an expensive apartment in Dubai. It does not appear that Shalev was employed after 2021. Shalev has outstanding warrants in New York and New Jersey, a history of failing to appear in court, and a history of actions to evade law enforcement. In addition, the criminal complaint and affidavit in this case, along with further evidence obtained at the time of arrest, suggest strong evidence supporting the charged offenses in this case.

Under these circumstances, I concluded that the significant bond package proposed by Shalev, along with conditions including GPS monitoring and home incarceration, are simply insufficient to reasonably assure that Shalev will appear at trial.”