⏱ 2 min read
Leor Moshe, a 43-year-old man from Tom’s River, New Jersey, has admitted to running a massive Ponzi scheme that defrauded over 97 members of the Orthodox Jewish community out of more than $47 million. The scheme, which lasted from June 2019 to June 2023, involved Moshe convincing investors to put their money into his company, Capital Funding ASAP LLC, with promises of high returns. Instead, he used the funds to pay off earlier investors and cover personal expenses, including gambling debts and home renovations.
Moshe’s scam was built on false representations, including claims that investments would be used to fund short-term business loans with returns of 9% to 53%. In reality, the money was used to fuel a Ponzi-like operation, with Moshe using funds from newer investors to pay off those who had invested earlier. The scheme ultimately collapsed, leaving dozens of victims with significant financial losses.
The investigation into Moshe’s activities was led by the FBI, with assistance from the SEC. Moshe has pleaded guilty to wire fraud and is scheduled to be sentenced in December 2026. The case highlights the ongoing problem of financial fraud and the importance of vigilance in protecting the investing public.
The impact of Moshe’s scheme on the Orthodox Jewish community has been significant, with many victims reporting substantial financial losses. The case serves as a reminder of the dangers of investment scams and the importance of thoroughly researching any investment opportunity before committing funds.
📋 Key Facts
- Crime: Fraud & Financial Crimes
- Defendant: New Jersey
- Location: NJ
- Source: DOJ Press Release
