NEW YORK (CBSNewYork/AP) — Authorities say a man who believed he was being cheated by a business associate went to his Staten Island home Tuesday and fatally shot him and wounded his wife.  The man then barricaded himself inside their basement before he was shot to death during a police confrontation.

Police said the couple let 48-year-old Ilya Iglanov into their home in Huguenot before he fired his weapon. Semyon Levin, 52, was shot in the head and his wife, Marina Tartakouskaya, 45, was shot in the torso at 115 Collyer Ave.

The incident happened around 12:30 p.m.

Despite her gunshot wound, Tartakouskaya and her maid were able to escape and asked a dog-walking neighbor to call police.  Iglanov was right behind them and police said he put a gun to the head of that neighbor and pulled the trigger. However, the gun jammed and Iglanov ran back inside the home, CBS 2’s Sean Hennessey reported.

Officers eventually discovered Iglanov barricaded in a basement closet.  After trying to shoot himself, police said he ignored commands to raise his hands and drop his loaded handgun.  Iglanov was shot after police said he pointed his gun at the first officer to approach him.

Late Tuesday, police said Iglanov was “distraught and depressed” because he believed that Levin had cheated him of his savings invested in a patented design for a military grade flashlight.  Authorities learned of the man’s motivations after speaking with his family members.

1010 WINS’ Al Jones With More On The Shooting

Levin died at the scene, but Tartakouskaya remains hospitalized in serious condition.

Residents in the upscale community were shocked to hear the news.

“They’ve lived here for over 10 years. They’ve been married a long time — good family, nice people. Every time I go there, they offer me food, drink, all that stuff,” neighbor Joseph Grillo told CBS 2’s Emily Smith.

Praveen Sharma said he heard a lot of noise and ran to see what happened.

“I was at home actually — somebody got shot. I heard like a screeching noise and ambulance,” he said.

“It just shows how fragile life can be and you never know what could happen and you know the unexpected can happen in a heartbeat,” neighbor George Maneates added.

(TM and Copyright 2011 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2011 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)

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