Tags: Ponzi | investment | Facebook | fraud

Ponzi Schemer Serving 22 Years Pleads Guilty in Facebook Scam

Wednesday, 03 Sep 2014 03:37 PM

A New Jersey man serving 22 years in prison for a $200 million Ponzi scheme pleaded guilty to his role in a separate fraud involving the initial public offering of Facebook Inc.

Eliyahu Weinstein, 39, also admitted Wednesday in federal court in Trenton, New Jersey, that he defrauded investors in several real estate deals and that he laundered proceeds of the schemes, according to U.S. Attorney Paul Fishman.

At the time of the fraud, Weinstein was under indictment for a real-estate scam that led to his 22-year prison term. He faces as many as 30 additional years on the most serious charge he admitted to Wednesday.

© Copyright 2017 Bloomberg News. All rights reserved.

   
1Like our page
2Share
Personal-Finance
A New Jersey man serving 22 years in prison for a $200 million Ponzi scheme pleaded guilty to his role in a separate fraud involving the initial public offering of Facebook.
Ponzi, investment, Facebook, fraud
106
2014-37-03
Wednesday, 03 Sep 2014 03:37 PM
Newsmax Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved