Millions suspected fraud: Fraud pardoned by Trump arrested again

On his last day as president of the United States, Donald Trump pardons fraudster Eliyahu Weinstein, who was sentenced to 24 years in prison. The man has now been charged with fraud again. It’s about $35 million.

A convicted fraudster whose sentence was commuted by Donald Trump in 2021 has been arrested again on suspicion of fraud. Prosecutors said Eliyahu Weinstein and four other men are accused of conspiring to defraud 150 investors out of more than $35 million.

In return for their investment, Weinstein promised the victims a share in the deal for medical supplies to be shipped to Ukraine. In 2013, Weinstein was sentenced to 24 years in prison for fraud.

$230 million damage

In his first scams, Weinstein stole a total of $230 million from his victims, according to prosecutors. Sum up from two different cases of fraud.

In the first case, Weinstein convinced his victims to invest in a fictitious real estate business. In doing so, the investors stole $200 million.

The second case of fraud shows Weinstein isn’t the kind of criminal who learns from his mistakes: Even at the time of his initial real estate fraud hearing, the former used-car dealer was preparing to swindle more money.

Pardon on Trump’s last day

This second scam was related to the Facebook IPO: Weinstein promised his victims access to Facebook posts. He was able to earn a total of $30 million with this scam.

In fact, the 48-year-old should have served 24 years in prison. But Donald Trump pardoned Weinstein on January 19, 2021 – his last day as President of the United States. The fraudster was released after less than eight years.

Working again under an assumed name?

After his release, Weinstein is said to have immediately started cheating people again. Attorney General Philip R. Selinger told a news conference that he “picked up where he left off.”

Founder of Optimus Investments Inc. under the pseudonym Mike Konig. According to a confidential audio recording said to be available to the public prosecutor, the accused himself admitted that no one would give him “a penny” if he used his real name.

Barry Wachsler, a friend of Weinstein’s, assured The New York Times of Weinstein’s innocence: Weinstein himself could not believe the renewed indictment.

“They wanted to have it.”

“They wanted to have him,” said Faxler. “They wanted to teach him a lesson – maybe because they hate the fact that Trump commuted his sentence or something.”

The lawyer who advocated commuting Weinstein’s sentence believes he should have no mitigating circumstances if he is convicted: “If he is found guilty a second time, he won’t get any clemency.”

The presumption of innocence applies until conviction by a court.