Federal agents arrested the leader of a
real estate investment scam based on charges that the alleged perpetrator ran a scheme that resulted
in the losses of at least $200 million. Eliyahu Weinstein, aka “Eli
Weinstein” was arrested at his home on Thursday, August 12, 2010.
Federal regulators have charged Weinstein, 35, of Lakewood, New Jersey,
with one count of wire fraud and one count of bank fraud for his involvement
in the elaborate investment scam. According to charges, Weinstein targeted
fellow members of his Orthodox Jewish community in New Jersey, as well
as an investor from the United Kingdom.
Agents also arrested Vladimir Siforov, 43, of Manalapan, New Jersey and
charged him with one count of wire fraud.
Among the allegations, the duo apparently lied about the properties that
they owned and sold fake interest in properties. They have also been accused
of making threats, deliberate
misrepresentations and using counterfeit checks to facilitate closings.
“Weinstein is charged with offering an array of lucrative investment
opportunities that served the single purpose of fattening his wallet,”
said U.S. Attorney Fishman. “It is always offensive when someone
steals from others to finance his own luxurious lifestyle, but it is especially
galling to exploit a community with whom one shares an inherent trust.”
The Law Firm of David P. Meyer & Associates
If you have lost money due to investment fraud, you should contact one
of our experienced
investment fraud attorneys for a free case evaluation. You can reach us by calling toll-free (888)
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online form. Our lawyers are licensed in California and Ohio and we represent investors
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