Eliyahu “Eli” Weinstein, a Haredi (Orthodox) Jewish man from Lakewood, New Jersey, has been sentenced to 22 years in prison on multiple federal fraud charges.
Weinstein was sentenced on two counts of conspiracy to commit wire fraud and one count of money laundering.
U.S. District Judge Joel A. Pisano also ordered Weinstein to pay $215.4 million in restitution to his victims and forfeit another $215.4 million to the government.
Weinstein is also to be under supervised release for three years after the conclusion of his prison sentence.
Eli Weinstein’s story is the story of one of the most ambitious and brazen schemers in the annals of American fraud..
Eliyahu Weinstein, a schlubby, married, now 38 year-old father of six, will not be a free man until he is almost 60 years of age.
Eli Weinstein is behind bars because he stole at least $200 million from several dozen Orthodox Jews. He has admitted to this.
How Weinstein stole the money – and the chutzpah it took for him to do it to his own people – is what the rest of this story is about. . . .