A Lakewood man has admitted to five counts in federal court. Joel Wittlels is the fourth person with the guilty plea to commit securities fraud with Eli Weinstein. Wittlels worked with Weinstein, who was sentenced to 24 years in federal prison after defrauding investors as part of a $230M Ponzi scheme.
Wittels also please guilty to one count each of conspiracy to obstruct justice and to engage in the unlicensed wholesale distribution of prescription drugs.
Eli Weinstein served less than eight years of his sentence before having his time commuted by then President Donald Trump on the full day of his term on January 19, 2021.
