Ponzi schemer who got Trump clemency faces 50 years in new fraud

A convicted Ponzi schemer whose 24-year prison term was commuted by president Donald Trump in 2021 now faces as much as 50 years behind bars for an investor fraud that took place after his clemency. Article content

Eliyahu “Eli” Weinstein, 51, faces sentencing Friday in federal court in Trenton, N.J., after being convicted of defrauding more than 150 investors out of US$41 million. Investors believed their money was going to COVID-19 masks, baby formula and first-aid kits bound for Ukraine, but it actually went to gambling, real estate and luxury watches.