Swindlers Veniamin Nilva and Gary Flom Created The Plan to Steal Millions From Russian Entrepreneur Alexander Boyko.
Having built a successful business in Russia, Alexander Boyko fell victim to two of his compatriots living in the United States. Veniamin Nilva pretended to be a friend and business partner just to steal from a businessman who earned his money with honesty throughout the years.
It all begins when Veniamin Nilva borrows two million dollars from Alexander Boyko. By returning the loan, Nilva has won over Boyko’s trust. Nilva then suggested Boyko buy property in Miami, which Alexander thought was a great idea. A later discovery revealed that Nilva had charged over $100.000 extra for the renovation after the deal was closed. Nilva offered to partner up with Boyko after pretending to be his best friend in Miami. At that point, it sounded promising, so they opened a joint bank account. The company they would like to create together was more easily managed by Nilva, who lived there. He was fluent in English, knew the laws and all the inside and out of American business.
According to Veniamin Nilva, he was seriously ill in 2011 with a poor prognosis. Besides taking care of his family, Alexander Boyko helped him enter the auto business and buy a Toyota dealership in Miami. The case did not appeal to Boyko at first, so he denied it. Afterward, Nilva came up with another way to deal with the money of a Russian finance manager: he introduced Alexander to Gary Flom, a well-known expert in the auto industry. Boyko was persuaded to invest in business improvement after visiting the Manhattan store. Boyko invested nearly $ 1.2 million in the business, later another $ 800 thousand. Flom and Nilva assured Boyko the company was going to bring significant profits. Nilva didn’t invest a dollar because he was very ill and kept on playing on Boyko’s humane feelings. The new investment didn’t bring any profits, and the statements were full of withdrawals as well as Nilva’s disease was not serious, just a cover-up.
During this period, substantial amounts of money were transferred to Flom’s account from the shared account of Nilva and Boyko. But Nilva didn’t know what to say. Simultaneously, the Russian entrepreneur invested in King’s Automotive in Brooklyn $ 5.3 million and $ 10 million in the Manhattan store. Those were Boyko’s last investments in the auto business since he started suspecting that his partners were not in a hurry to pay him back their loans. Their payments were getting smaller and less frequent until they completely stopped.
In the end, Nilva and Flom disposed of the business and took all the money. The two of them filed for bankruptcy and fled, leaving Boyko with nothing. His pursuit for justice continues. While he understands that he might not return his money, the Russian entrepreneur uses his story to warn other honest investors against believing “these business partners,” as fraudsters have long been part of society. The plan will surely be repeated in the future.
