Lakewood, NJ – A New Jersey man who is charged with running a $200 million real-estate scheme used the money to fuel a lavish lifestyle and collecting multi-million dollar worth of jewelry.
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Prosecutors allege that Weinstein used some of his victims’ investments to amass a substantial collection of art, jewelry and Judaica, including manuscripts and antique Judaica worth approximately $6.2 million; a jewelry and clock collection worth about $7.6 million; a substantial collection of jewelry and watches valued at $6.2 million, including items from such high-end jewelers and watchmakers as Breguet, Bulgari, Cartier, Omega, Patek Phillippe, and Harry Winston.
Weinstein is believed to have used “third-party buyers” to sell real or fake interest in a single property multiple times to different victims; and also drew up fraudulent leases to make it appear that a property had substantial rental income. He also hid important information from investors, such as changes to zoning laws, that would have dramatically reduced the value of certain properties.
In addition to defrauding members of the Orthodox Jewish community, Weinstein also faces one count of bank fraud for allegedly bilking a Chicago bank out of $6 million.
Looks like he has the assets to repay the victims.
How old is this guy,and how many kids does he have
Do not be don lekaf zechus! There are bad people in our community. Yes, unimaginable but true nevertheless. They are always charismatic and give other people’s money for tzedokah. This furthers the image they are trying to create while bringing them tremendous kovod. As soon as we accept this unfortunate fact, perhaps we will stop throwing our money at these fraudsters. Youngsters who never merited the trust of the community and who likely never made a dollar in their lives!
Will we see a pidyon shevuyim fund for this individual also? Remember – he was not convicted yet.
I don’t see any difference between him and a bank who lost money through bad investments. Maybe the Feds ought to come in and rescue him like they did the banks.
Do you think he will be a flight risk and run to Eretz Yisroel??
I really think that everyone should give him a chance isnt it inocent until proven guilty on all charges do we know he stole all theese collections
What a chillel hashem!
the whole situation is a rachmanus on all sides so please be sensative to the comments. just an example what if it was your son etc. I am not justifying what he maybe has done but there is no heter to bash him birabim. be carefull!
“He also hid important information from investors, such as changes to zoning laws, that would have dramatically reduced the value of certain properties.”
Why isn’t this the type of information that any buyer could obtain by doing minimal due diligence?? Zoning laws are publically available.
poshiter yid Says:
I really think that everyone should give him a chance isnt it inocent until proven guilty on all charges do we know he stole all theese collections
innocent until proven guilty i only for a court of law not public opinion
Today at 09:28 AM Anonymous Says:
What a chillel hashem!
this is small potatoes, wait till the powers to be start saying this is blood libel like lewis said about smr. And maybe holding a concert for benifit or have people say loudly a yid should not sot in prison
that will be the real chillel hashem
Says:
“He also hid important information from investors, such as changes to zoning laws, that would have dramatically reduced the value of certain properties.”
Why isn’t this the type of information that any buyer could obtain by doing minimal due diligence?? Zoning laws are publically available.
true that does not make what he did right
enough comments Says:
the whole situation is a rachmanus on all sides so please be sensative to the comments. just an example what if it was your son etc. I am not justifying what he maybe has done but there is no heter to bash him birabim. be carefull!
no, shame is a very powerful deterrent
enough comments Says:
the whole situation is a rachmanus on all sides
why for him, if true he stole cheated people out of million of dollars there should be no rachmanus he is a criminal
One article I read said he’s 35 with 6 kids (if I remember correctly).
even its all true that he stole money he is still considered a jew with all concepts. the only thing the torha says in this case is vehishiv as hgezilhe…
#12 : If he was my son, I would have turned him in! Taking someone else’s money fraudulently is retzicha! This is evil at it’s worst and there is no teshuvah ever until the money is paid back. Yes, if he was my son, I would have turned him in!
#13 u might not want to have rachmunis on him. but think about his parents…they can be the finest people & will now have to suffer such embarrasment!
Let’s see tomorrows outcome if he will be let out on bail ,if yes the rabonim in Brasil are making all the preperations for Weinstein and We might be Zoiche bizmaneinu to GILUI ELIYOHU!
It is unfair to taint him with the same brush and start making a mockery of the pidyon shevuyim fund. There is a great difference here and he cannot even be compared under the fingernail of Sholom Mordechai Rubashkin. He robbed people outright, he swindled defrauded people for his own personal wealth and gain. He was ruthless and did not care for the lives he ruined as he lined his own pockets with jewelry, luxuries and wealth.
Mr Rubashkin, kept his business afloat, supported his family and led a regular life without the grandeur of rolex watches and mega personal investments. Most of the charges against him were thrown out and then there was this trumped up charge of bank fraud that when you look closer, there was NO personal gain he was paying back his debts to the bank no problem. Then ICE raided the factory for illegal workers which was a case that was THROWN OUT but nevertheless forced him out of business and unable to pay back his debts, and those same people that raided him and had the case thrown out threw the book at him for bank fraud!!
If you havent worked out the difference by now then I am sorry for your intellect. However, it is extremely naive to make any form of comparisons.
wow relax oilim see what unfolds
I said this on one of the other threads and I’ll repeat it here: L’toeles Horabim: This guy is a 100% thief. I know this from direct knowledge and from different people who dealt directly with him on different deals (not the ones mentioned in the indictments). They all had one thing in common: he lied and he stole their money through deception. Please, I beg of you, all you well-meaning people, this is not a case of dan l’kaf zchus or innocent until proven guilty: he’s stolen many, many times and, if given more opportunities, he will continue to steal, ruin people’s lives and be mechalel shaim shomayim more! The best thing that could happen is for him to get a nice long sentence as soon as possible and off the pages of the newspapers. Then, anyone who wants to be mekarev him can quietly visit him in prison and bring him nosh and make him feel good. Meanwhile, the frum community should cooperate in every way to get him put away as quickly as possible for as long as possible.
#21 : If you know that your son is robbing people blind and you are a willing bystander then what does that say about you! I know that I despise dishonesty and I would be very unhappy to have such offspring. And yes, I would not have been a willing bystander.
#21 : The best place for Mr. Weinstein is a prison cell. Sad as this may be. Realize that if he is let free he will surely find a way to do this again. Murder and taking someone’s money is pretty much the same. Anyone who watched this happen and did nothing was an enabler and will surely be held accountable.
I feel bad for him but what the hell was he thinking
Maybe rich people and even choshava rabbunim who inherited money from yerusha came down to poverty by this
I’m comforted by the picture, he is dressed like a ben torah. I am sure he’ll get his mehadrin food in jail, maybe he’ll even get them to build a bes medrash for his budding tzidkus and tremendous lomdus (see picture again, he’s a real lamdan). When he gets out they’ll honor him as the big ba’al tzedakah and chashuveh masmid he really is. His children will get ehrliche shidduchim and his wife will get two drop-dead stunning but very tznius human hair sheitels . How wonderful it is to live a torah-true life.
#17 . We should have rachmonis on the parents. They may be the finest people in the world, they may not be. It matters not at all. What about the victims? OK for all of you who object to a Jew being charged with a crime the “alleged victims”. The “alleged” money they lost should mean something.
A person is legally innocent until proven guilty, but still maybe a moments thought should go out to people who had their property stolen.