This is the fault of the Lakewood askanim and rabbanim, who didn't allow anyone who knew anything while the scheme was going on to go to the authorities!
New York resident Eliyahu (Eli) Weinstein (51), who was released from custody in 2021 after receiving a pardon from President Donald Trump, has been sentenced to 37 years in prison for a new fraud scheme.
According to prosecutors, Weinstein, who belongs to the Orthodox Jewish community, used the alias "Mike Konig" to conceal his identity and solicited money from investors claiming he would invest in COVID masks, baby formula and emergency equipment destined for Ukraine.
The money was actually used for gambling, real estate purchases and luxury watches.
The federal court in New Jersey determined that Weinstein defrauded more than 150 investors of $41 million and ordered him to pay $44 million in restitution.
US District Judge Michael Shipp said Weinstein had received “a gift that few have received in the United States” and that he “squandered” it by immediately returning to crime. Victims told the court Weinstein ruined families and stole life savings, and prosecutors said he has taken a quarter of a billion dollars from investors over the past twenty years.
Weinstein’s co-defendant Ari Bromberg received twelve years. Prosecutors revealed that two associates secretly recorded Weinstein admitting the fraud, saying he “finagled and Ponzied and lied to people to cover us for our deals.” He was convicted of securities fraud, wire fraud, money laundering and making false statements.
Weinstein still owes more than two hundred twenty eight million dollars in restitution from his first Ponzi scheme, which targeted many in the Orthodox Jewish community. His attorney says he is innocent and will appeal.
