Fairfield, CT – On 2/2/2026, Malik Z. Smith (DOB 1/13/2001) of Flushing, New York turned himself in to the Fairfield Police Department on a Fairfield Police warrant. Smith was charged with Larceny in the First Degree, issued a court set $200,000 surety bond and appeared in Bridgeport Superior Court last month.

The charge stems from a fraud investigation that began on 3/11/2024 after a Fairfield resident reported being contacted about what was described as a loan affiliated with the U.S. Small Business Administration (SBA). The resident was led to believe the funding was part of a legitimate SBA program and was instructed to provide personal and financial information in order to secure the loan.

During the course of the scheme, the victim was directed to transfer funds under the belief that the payments were required to finalize or release the loan proceeds. Over several months, payments were sent through Zelle, Western Union, and bank wire transfers to multiple individuals and business accounts. Initially, more than $150,000 was sent. As the fraud continued, the losses escalated significantly, ultimately exceeding $1,000,000.

Through the use of search warrants, financial analysis, and coordination with financial institutions, Fairfield Police Detectives identified individuals who received funds connected to the scam. Detectives applied for and obtained arrest warrants charging them with Larceny in the First Degree. This investigation spanned more than a year and required extensive coordination, financial analysis, and investigative work. Additional arrests are pending in this case, reflecting the continued commitment of Fairfield Police Detectives to pursue complex financial crimes and hold those responsible accountable.

Anyone with information regarding similar incidents is encouraged to contact the Fairfield Police Detective Bureau at (203) 254-4840. Anonymous tips may be submitted by texting the keyword FPDCT and your message to 847411 (Tip411), or online at fpdct.com/tips.