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.
Please don’t embarrass us by calling this pig a orthodox Jew!!!!!
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
“Thou Shalt Not Steal” … Nevertheless, I feel sorry for his family, along with his other victims
Why does this have to be made public?
excessive!
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.
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.
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.