Real Estate Schemer Weinstein Out On $10M Bail

Law360, New York (August 27, 2010, 6:24 PM EDT) -- Eliyahu “Eli” Weinstein, charged by federal prosecutors with running a $200 million real estate investment scam aimed at fellow Orthodox Jews in several U.S. states and overseas, is out of prison on $10 million bail.

U.S. Magistrate Judge Mark Falk of the U.S. District Court for the District of New Jersey on Thursday overruled prosecutors' pleas to keep Weinstein in prison and released him on bail secured by five of his properties worth about $4.5 million, according to Assistant U.S. Attorney Zach Intrater.

Weinstein will also...
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