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Assistant U.S. Attorney Sammi Malek

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Former Tenafly Marble, Granite Company Prez Admits Conning Bank Out Of $17 Million Former Tenafly Marble, Granite Company Prez Admits Conning Bank Out Of $17 Million
Former Tenafly Marble, Granite Company Prez Admits Conning Bank Out Of $17 Million A former marble and granite wholesaler from Tenafly admitted in federal court on Tuesday that he cooked the books, among other deceits, in a $17 million bank fraud. Rajendra Kankariya, 61, pleaded guilty by videoconference via teleconference to his role in the scheme, during which the government said accomplices posed as customers to secure a $17 million line of credit that his company defaulted on. Kankariya was president and part owner of Lotus Exim International Inc. (LEI), which fraudulently got the line of credit and then had it extended by fabricating or inflating many of the accounts…

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by Jerry DeMarco