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Tuesday, May 14, 2013

Lakewood scam artist Eli Weinstein charged in $6.7 million scheme selling Facebook IPO


Confessed con man Eliyahu Weinstein of Lakewood faces more charges today when he appears before Magistrate Judge Madeline Cox Arleo in Newark.

Weinstein, 37, Alex Schleider, 47, both of Lakewood and Aaron Muschel, 63, of Brooklyn, are charged with stealing $6.7 million from an investor “in part by claiming special access to shares in the social media company Facebook Inc., prior to the company’s initial public offering,” according to a release from the U.S. Attorney’s Office.

An initial appearance for the three has been set for 2 p.m.

In January, Weinstein pleaded guilty to one count of conspiracy to commit wire fraud and one count of money laundering in connection with a real estate investment scheme that resulted in $200 million in losses.

Weinstein faces up to 25 years in prison for the charges to which he pleaded guilty.

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