JOURNAL ARTICLE

Ponzi Schemer Who Got Trump Clemency Gets New 37-Year Term.

  • Published In: Bloomberg.com, 2025. P. N.PAG 1 of 3

  • Database: Business Source Ultimate 2 of 3

  • Authored By: Voreacos, David 3 of 3

Abstract

The article focuses on the sentencing of Eliyahu "Eli" Weinstein, a convicted Ponzi schemer who received a 37-year prison term for defrauding investors out of $44 million after his release from a previous sentence commuted by President Donald Trump. Weinstein misled investors into believing their funds were purchasing essential goods related to the Covid-19 pandemic and the war in Ukraine, while instead using the money for personal expenses and to repay earlier investors. The judge expressed concern over Weinstein's actions, labeling him a predator who caused significant harm to his victims, many of whom were from the Orthodox Jewish community. Weinstein's lawyer plans to appeal the conviction, asserting his client's innocence. [Extracted from the article]

Additional Information

  • Source:Bloomberg.com. 2025/11, pN.PAG
  • Document Type:Article
  • Subject Area:Politics and Government
  • Publication Date:2025
  • Accession Number:189335477
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