NJ Man Whose $230M Ponzi Scheme Sentence Was Commuted By Trump Is Charged In New Fraud Scheme

Politico reports:

A New Jersey man who had his prison sentence commuted by then-President Donald Trump was charged on Wednesday in a new, sophisticated fraud scheme that included falsely promising deals to send supplies to Ukraine.

The U.S. Attorney’s Office in New Jersey charged Eliyahu Weinstein and four others in a plan that allegedly cost investors millions of dollars. Weinstein had been serving a lengthy prison sentence for being convicted in two cases — a Ponzi scheme and real estate fraud — that led to more than $230 million in investor losses when Trump commuted his sentence in January 2021.

Soon after he was released from prison, prosecutors say, Weinstein started orchestrating a new scheme to solicit money from investors through a company called Optimus Investments Inc. He ran the company under a fake name, Mike Konig.

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New Jersey man commuted by Trump charged in new fraud scheme https://t.co/uxGYJeEH5R

— POLITICO (@politico) July 19, 2023