- Associated Press - Wednesday, September 3, 2014

TRENTON, N.J. (AP) - A New Jersey man who was sentenced earlier this year for running a Ponzi-style real estate scheme has admitted to new fraud and money laundering charges.

Federal prosecutors say 39-year-old Eliyahu Weinstein of Lakewood pleaded guilty Wednesday to conspiracy to commit wire fraud, committing wire fraud while on pretrial release and money laundering.

Authorities say Weinstein admitted defrauding investors in connection with a Facebook initial public offering and real estate deals, then laundered the money. Two other defendants have pleaded guilty to charges stemming from the scheme.

Weinstein was sentenced in February to 22 years in prison for running a real estate fraud scheme that conned $200 million from investors. He faces up to 60 more years when he’s sentenced Dec. 15 on the new charges.

Weinstein’s lawyer declined comment.



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