Nikolai Sarakhman v. Sumitomo Mitsui Finance and Leasing Company, Ltd.

District Court, S.D. New York·Decided August 3, 2026·No. 1:24-cv-05817·Unknown

Opinion

UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF NEW YORK NIKOLAI SARAKHMAN, Plaintiff, -against- 24-CV-5817 (JGLC) SUMITOMO MITSUI FINANCE AND OPINION AND ORDER LEASING COMPANY, LTD., Defendant.

JESSICA G. L. CLARKE, United States District Judge: Just a few days before Plaintiff Nikolai Sarakhman was set to receive final approval for a business loan, he revealed to his would-be financer that he was born in Russia and grew up in Belarus. This admission, Sarakhman alleges, caused Defendant Sumitomo Mitsui Finance and Leasing Company, Limited to intensely scrutinize him and deny him the loan—despite his renewed application being a mere formality. Sarakhman now brings claims under the Equal Credit Opportunity Act, 15 U.S.C. § 1961 et seq., and the Civil Rights Act, 42 U.S.C. § 1981, seeking damages for a lost contract and the humiliation he says he experienced. Before the Court is Defendant’s second motion to dismiss. Like Plaintiff’s original complaint, the Amended Complaint does not plead facts that suggest Sumitomo actually or constructively denied Sarakhman’s loan application or that permit an inference of discriminatory intent during the application process. The Court thus grants the Motion to Dismiss the Amended Complaint in its entirety for failure it to state a claim. BACKGROUND The following facts, unless otherwise noted, are taken from the Amended Complaint (ECF No. 30, “AC”) and presumed to be true for the purposes of this Order. See LaFaro v. N.Y. Cardiothoracic Grp., PLLC, 570 F.3d 471, 475 (2d Cir. 2009). The Court assumes familiarity with its Opinion and Order on the prior motion to dismiss. See ECF No. 28 (“MTD Opinion”). Plaintiff Nikolai Sarakhman is a man of Russian and Belarussian descent who owns Byteks USA, LLC (“Byteks USA”). ¶ 6. Byteks USA is a licensed freight carrier. Id. Defendant Sumitomo Mitsui Finance and Leasing Company, Limited (“Sumitomo”) is a Japanese

multinational banking company that services commercial enterprises. ¶ 8. Plaintiff alleges that he applied for a $171,000 loan to purchase a truck in January 2023. ¶¶ 9, 13, 34. The loan, which Sumitomo approved on February 3, 2023, was to be held open for ninety days so that Sarakhman could purchase the truck he selected. ¶¶ 9–10. The approved truck sold to another buyer before Sarakhman could buy it, however. See ECF No. 30-1 at 4. So, halfway through the open loan period, Sarakhman found a different truck at auction he wanted to bid on. ¶ 12. Before finalizing the bid, Sarakhman notified his contact at Sumitomo, Jason Gregory, to request confirmation of the loan. ¶ 12. The next day, Gregory clarified that the open financing approval permitted up to $171,000 but that approvals “are based on the asset” and thus more information was needed to

formalize the approval for the truck Mr. Sarakhman wanted. ¶ 13. That process “[s]hould not be a problem,” Mr. Gregory told Plaintiff. ¶ 13. Thereafter, Sarakhman bought the freight truck for approximately $181,500, including auction fees. ¶ 14. What happened next is the crux of this action. Shortly after Plaintiff purchased the truck—on a Friday1—he told Gregory about the purchase and was assured that the deal “should” be “reapproved” by the following Monday; Sarakhman only needed to submit the invoice and title copy. ¶¶ 14–15. The following week, Plaintiff sent Gregory the invoice, and the pair spoke

1 The Amended Complaint identifies the date as Thursday, March 31, 2023, AC ¶¶ 14–15, but March 31, 2023 was a Friday, and the exhibits attached to the Complaint show that he informed Gregory on Friday, March 31, 2023, ECF No. 30-1 at 6. on the phone. ¶¶ 16–17. During this conversation, Sarakhman revealed that he was originally from Russia and Belarus and had immigrated to the United States as a child. ¶ 17. After his conversation with Gregory, Plaintiff alleges, the tenor of Defendant’s due diligence changed. Sarakhman learned that Sumitomo was looking through his social media sites. ¶ 18. Twice in the same day, Gregory asked Plaintiff to confirm that he, Nikolai

Sarakhman, was the sole owner of Byteks USA. ¶¶ 19–22. Later in the week, Gregory referred four questions from the compliance team to Plaintiff that focused on Byteks USA’s presence in and relationship to Russia and Belarus. See ¶ 24. The Amended Complaint alleges that the “truthful[]” answer to those questions, which Mr. Sarakhman gave, is that the only connection Byteks USA had to Russia and Belarus was through Mr. Sarakhman’s “roots.” Id. Nonetheless, the exhibits attached to the Amended Complaint acknowledge that, in real time, Plaintiff told Gregory that Byteks USA previously bought Belarusian-made boots to sell in the United States. See ECF No. 30-1 at 13. On April 10, 2023—one-and-a-half weeks after the truck purchase—Gregory informed

Sarakhman that vetting continued to “drag[] along” because there was another company named “Byteks” in Russia and Belarus. ¶ 25. The next day, Gregory updated Sarakhman that the “Sanctions team” had completed their review and that the case would be sent to the “Reputational Risk division.” ¶ 26. He also recommended that Sarakhman “pursue other financing” in the event that timely approval was not possible. Id. On April 17, 2023, Sarakhman told Defendant that he needed a yes or no answer on financing. ¶ 27. After all, “time was of the essence” in approving the loan. ¶ 44. At that point, Gregory told Sarakhman that, if a yes or no answer was needed, the answer was “no,” because Gregory still “ha[d] not received a response” about due diligence. ¶ 28. Ultimately, Plaintiff applied for and received financing from a different lender, although he alleges that the delay in securing a truck caused him to lose a “long- term contract with a large food distribution company.” ¶¶ 51–52. Sarakhman filed this action on July 31, 2024, alleging violations of federal, New York state, and New York City civil rights laws. ECF No. 1 at 4–7. Defendant previously filed a motion to dismiss, which the Court granted in full on August 29, 2025. ECF No. 13; MTD

Opinion. In its Opinion, the Court found that Plaintiff had not pled facts to support that Defendant took any adverse action against Plaintiff or that Defendant’s actions were motivated by discriminatory intent. MTD Opinion at 1. In fact, based on the original complaint and attached documents, the Court determined that there was a more likely explanation for Sumitomo’s delay: the need to investigate Byteks USA’s relationship with a Russian company of the same name while the Russo–Ukrainian war—and United States sanctions against Russia— continued to escalate. Id. at 9, 13. Nonetheless, the Court granted Plaintiff leave to amend the Complaint, which Plaintiff did on September 30, 2025. Id. at 1; AC. The Amended Complaint omits claims under local and

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Nikolai Sarakhman v. Sumitomo Mitsui Finance and Leasing Company, Ltd., (S.D.N.Y. 2026).

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