Lakewood man accused of running massive Ponzi scheme

LAKEWOOD - A Lakewood man was arrested this morning and accused of ripping off hundreds of millions from investors around the globe.

The U.S. Attorney?s Office says that Eliyahu Weinstein, 35, convinced people to invest in real estate with the promise of huge profits. However, investigators say he stole their money instead.

The scheme may have been uncovered by Solomon Dwek, a government informant who previously helped bring down another large scam involving numerous New Jersey politicians and rabbis.

Exact figures of how much Weinstein stole aren?t available, but they are expected to be in the hundreds of millions.

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