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NJ man sentenced for $200M fraud faces new charges

Local News | Apr 18, 2014

NJ man sentenced for $200M fraud faces new charges

NEWARK, N.J. (AP) — A New Jersey man who was sentenced less than two months ago for running a Ponzi-style real estate scheme has been indicted on new charges.

New Jersey’s U.S. attorney said Thursday that Eliyahu Weinstein has been indicted on counts of wire fraud and transacting in criminal proceeds while on pretrial release.

Federal prosecutors allege the 38-year-old Lakewood resident and two co-defendants stole more than $6.5 million from an investor by claiming they had special access to Facebook shares before the company went public. Weinstein is also charged with defrauding victims through alleged real estate schemes in Florida.

Weinstein was sentenced in February to 22 years in prison for running a scheme in which he bilked investors out of $200 million.

A message left for his attorney was not immediately returned.

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