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It took a thief: Eliyahu Weinstein Sentenced to 22 years for $200 million fraud of fellow Orthodox Jews

By   /   March 11, 2014  /   No Comments

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“While my client was bugging him [Weinstein] to get his money back,” said Wolinetz’s attorney, Ari Weisbot said to the Newark Star-Ledger in 2009, “he [Wolinetz] got a wire transfer one day from Kars 4 Kids for $320,000. That was very strange. Why are they giving $320,000 at the direction of Eli Weinstein, who should have no control over their bank accounts? There may be potentially legitimate explanations for those transfers, but in my opinion, they carry the scent of money laundering.”

There was no “legitimate explanation” for the transfer. Weinstein had hooked Wolinetz into his Ponzi scheme. The 320K was a payment to placate the financially fleeced Wolinetz.

In another case involving charities, over the course of several days, Weinstein made payments of several million dollars to Vaad Lehakomas Kollelim, a supposed religious “charity” with offices in Manhattan. Bank records revealed in the FBI investigation showed that equivalent sums were paid out by the “charity” to Weinstein, sometimes on the same day or within a few days of Weinstein depositing the funds.

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