California Real Estate Fraud Report

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Orthodox Jews ripped off in 4-state real estate fraud

In a case that allegedly includes victims in four states as well as overseas, two men have been charged with stealing $200 million in a real estate fraud that targeted Orthodox Jews.

Eliyahu Weinstein of New Jersey and Vladimir Siforov of New York represented themselves as real estate investors. Their angle was to seek out victims in various Orthodox Jewish communities whose customs and social structure were familiar to Weinstein and Siforov. New Jersey, New York, Florida and California were the U.S. states in which the victims lived. Instead of investing their money, Weinstein used it to purchase  art, jewelry and Judaica. According to the prosecutors from the U.S. Attorney’s office in Newark, Weinstein’s collection includes manuscripts and antique Judaica items valued at $6.2 million; a jewelry and clock collection that cost $7.6 million; and jewelry and watches worth $6.2 million.

Read the full article in the Wall Street Journal.

© Copyright 2007-2018 Monique Bryher

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The information and notices contained on The California Real Estate Fraud Report are intended to summarize recent developments in real estate fraud, mortgage fraud, short sale fraud, REO fraud, appraisal fraud, loan modification scams, loan modification fraud and other real estate related crimes occurring in Los Angeles and California. The posts on this site are presented as general research and information and are expressly not intended, and should not be regarded, as legal advice. Much of the information on this site concerns allegations made in civil lawsuits and in criminal indictments. All persons are presumed innocent until convicted of a crime. Readers who have particular questions about real estate fraud, mortgage fraud and appraisal fraud matters or who believe they require legal counsel should seek the advice of an attorney.

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