NJ Man Charged In $200M Jewish Real Estate Scheme

Law360, New York (August 12, 2010, 7:50 PM EDT) -- Federal prosecutors, in conjunction with the government's new Financial Fraud Enforcement Task Force, charged a New Jersey man Thursday with enriching himself by running a $200 million real estate investment scam aimed at fellow Orthodox Jews in several U.S. states and overseas.

Eliyahu “Eli” Weinstein was arrested at his home and charged with bank and wire fraud in connection with the scheme, which he ran in order to buy expensive watches and Jewish cultural artifacts, according to the U.S. attorney for the District of New Jersey....
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