Thursday, January 3, 2013

Eli Weinstein pleads guilty to $200 million scam

WOBM   Four days before the start of his federal trial, Eliyahu Weinstein of Lakewood has admitted running a $200,000,000 real-estate investment scam and laundering the money. [...]

His plea bargain leaves him at risk for up to 25 years in prison at his scheduled April 2 sentencing. He’ll also be required to serve three years supervised release, submit an accounting of all money accrued in the scam, pay restitution to victims, and give up seized property valued at $2,000,000. [...]

Prosecutors contend that Weinstein initially targeted members of the Orthodox Jewish community to which he belonged, using his knowledge of customs and traditions to enhance his credibility in what legal experts call affinity fraud.

According to investigators, Weinstein took advantage of the Orthodox practice of trust-based transactions, convincing investors that they money was being rolled over into new ventures. He spread beyond the Orthodox circle, authorities contend, in April 2010 when mounting losses sank his reputation.

10 comments:

  1. In the words of a prominent member of the Orthodox Jewish community, no single ostensibly frum individual has caused as much pain and suffering on the Jewish people since Shabbetai Tzvi--maybe even earlier. Eli Weinstein was a terrible and evil human being since he was a young child. He has stolen money, lived with prostitutes and maligned innocent people since I knew him at the age of eight. It is terrible that he can only get up to twenty five years--he will always hurt people; that's just who he is.

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    1. The prostitution problem was a relatively well kept secret for some time. But here is another fascinating thing: if a rav, lawyer, askan or anyone else would try to convince him to pay back his creditors, he wouldn't just drive them mad with continued false promises, he would villify the rav's integrity with false information, attack the lawyer's professional reputation with outright lies, question the askan's motive with absolutely no basis, and do everything else he can to deflect attention from the one issue that mattered: paying his victims.

      I suspect, but this is just conjecture, that if a rav, attorney or askan had the opportunity, they would probably let the judge know who and Weinstein really is: a psycopath.

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    2. man. looking at postz online one thing is obvious. he destroyed many people, and they will kill him in cort. hes done, mann.

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  2. If a crook gets caught and is wired by the feds isn't it mesirah?

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  3. RDE:

    Here's a new article from today's N.Y. Times, that is of great interest and I think you'd be interested in posting:

    http://www.nytimes.com/2013/01/05/us/no-religious-exemption-when-it-comes-to-abuse.html


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  4. There have been some serious allegations against a certain Computer Technician in Lakewood who secludes himself with woman when Their Husbands are not home and acts in an inapropriate maner

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    1. A) such anonymous allegations are meaningless.

      B) such allegations are not even illegal under local law. They're a breach of halacha but not a crime under the law.

      And the wives are equally guilty as he is even if it is true.

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  5. This Computer Technician is an old story, He Gets away with it because His Father Heads a Beis Din in Lakewood and covers for him people are afraid to speak up However Like Chaim Halpern in London People eventualy find out

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