NJ Con Artist Pardoned By Trump Headed Back To Prison

TRENTON, NJ — A Ponzi schemer from Ocean County who was pardoned by President Donald Trump in January 2021 has been sentenced to prison for a new conviction in a new multimillion-dollar fraud scheme.

Eliyahu "Eli" Weinstein, 51, of Lakewood, was sentenced Friday by U.S. District Court Judge Michael A. Shipp to 37 years in prison in the new scheme, which stole millions from dozens of victims from 2021 to 2023, authorities said.

Weinstein also was ordered to pay $44,294,803 in restitution immediately, according to court records.

Charges brought by the Securities and Exchange Commission against Weinstein and Aryeh "Ari" Bromberg remain pending; action on those had been suspended by Shipp pending the outcome of the criminal case, according to court records.

Weinstein was serving a 24-year prison sentence for 2013 and 2014 fraud convictions when Trump commuted his sentence in January 2021. In that case he defrauded investors of more than $230 million.

According to court documents, Weinstein started the new scheme — which exploited shortages in baby formula and medical supplies — almost immediately while serving three years of supervised release. Read more: 2-Time NJ Ponzi Schemer Accused In New $35M Fraud After Trump Commuted Prison Sentence

Weinstein, who was convicted in the new case in March, used the alias Mike Konig to conceal his prior criminal convictions from investors while he and Aryeh "Ari" Bromberg and three other men ran the scheme, promising access to deals involving scarce COVID-19 face masks, baby formula, and first-aid kits supposedly destined for wartime Ukraine, authorities said at the time of Weinstein's arrest.

"These were brazen and sophisticated crimes that involved multiple conspirators and drew right from Weinstein’s playbook of fraud," authorities said at the time of Weinstein's arrest in 2023.

Weinstein was convicted March 31 following a jury trial of multiple counts of conspiracy, securities fraud, wire fraud and money laundering, along with obstruction of justice.

Bromberg, of Lakewood, also was convicted of conspiracy, securities fraud, wire fraud, money laundering, and obstruction of justice. He was sentenced to 12 years in prison and was ordered to make more than $44 million in restitution.

Both men also were sentenced to three years of supervised release at the end of their prison terms, according to the documents.