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New York - NYer Gets Up To 18 Years For $31M Ponzi

Published on: November 21, 2012 04:18 PM
By: AP/VIN News
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FILE - Greenblatt represented him self as Orthodox Jew to lure investments from Jewish community, including a Brooklyn synagogueFILE - Greenblatt represented him self as Orthodox Jew to lure investments from Jewish community, including a Brooklyn synagogue

New York - A New York City man has been sentenced to prison for stealing more than $31 million through a Ponzi scheme.

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Manhattan District Attorney Cyrus R. Vance Jr. announced the sentence of six to 18 years Wednesday for Joseph Greenblatt of Queens.

The Ponzi scheme was run through Maywood Capital, a real estate investment company originally based in Paramus, N.J.

Greenblatt solicited the investments between October 1995 and December 2004. Many of the victims were retirees living in Florida.

He pleaded guilty in September to grand larceny, securities fraud and other crimes.

Greenblatt An Orthodox Jew, whose victims were mostly Jewish, including a Brooklyn synagogue.

Greenblatt also was ordered to pay restitution.


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Read Comments (12)  —  Post Yours »

1

 Nov 21, 2012 at 04:43 PM ShmutzVesh Says:

Please don't embarrass us by calling this pig a orthodox Jew!!!!!

2

 Nov 21, 2012 at 05:14 PM semantics Says:

Reply to #1  
ShmutzVesh Says:

Please don't embarrass us by calling this pig a orthodox Jew!!!!!

Ok so he is a shomer shabbos.

3

 Nov 21, 2012 at 05:18 PM shredready Says:

Reply to #1  
ShmutzVesh Says:

Please don't embarrass us by calling this pig a orthodox Jew!!!!!

I hope you said the same thing when the guy has a beard and payuis

4

 Nov 21, 2012 at 05:19 PM Anonymous Says:

Orthodox Jew? He doesn't dress like one, non capel or tzitzis and for SURE he is not acting like one. Hashem sends panasah; and by stealing he is denying Hashem sends panasah

5

 Nov 21, 2012 at 06:26 PM ShmutzVesh Says:

Reply to #3  
shredready Says:

I hope you said the same thing when the guy has a beard and payuis

Absolutely! I always do.

6

 Nov 21, 2012 at 07:13 PM rationalman Says:

Reply to #4  
Anonymous Says:

Orthodox Jew? He doesn't dress like one, non capel or tzitzis and for SURE he is not acting like one. Hashem sends panasah; and by stealing he is denying Hashem sends panasah

how is he not dressed like one.....do you know if he is wearing tzitzis? or a yarmulka....? there are other requirements to be considered an orthodox jew.....

7

 Nov 21, 2012 at 08:08 PM DRSLZ Says:

"Thou Shalt Not Steal" ... Nevertheless, I feel sorry for his family, along with his other victims

8

 Nov 21, 2012 at 10:44 PM Anonymous Says:

Why does this have to be made public?

9

 Nov 22, 2012 at 05:39 AM Facts1 Says:

excessive!

10

 Nov 22, 2012 at 05:51 AM PaulinSaudi Says:

Justice must be done and be seen to be done. That is why we have public executions around here.

Pretty bad when you steal $30 million and the other Ponzi schemers in jail thin of you as a small fry.

11

 Nov 22, 2012 at 12:53 PM enlightened-yid Says:

Statistics shows that Ponzi scams are done within communities. Italian mob would prey on their own community members. And Orthodox Jews trust their own with money who too exploit that with Ponzi schemes. That's why with this guy and Madoff many Jewish institutions were victims.

12

 Nov 22, 2012 at 04:01 PM DRSLZ Says:

It's a common strategy to disarm the potential customer (victim) by representing oneself as a member of the community. Chassidish swindlers swindle other chassidim, or orthodox Jews. We put our guard down when we think the seller is one of us.

13

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