NEWARK, N.J. – Eliyahu “Eli” Weinstein, whose 24-year federal prison sentence was commuted after being twice convicted of defrauding investors of $230 million, has been indicted with one other conspirator in another fraud scheme, announced U.S. Attorney Philip R. Sellinger.

Weinstein, 48, and Aryeh “Ari” Bromberg, 49, were charged with conspiracy to commit securities fraud, securities fraud, conspiracy to commit wire fraud, four counts of wire fraud, and conspiracy to obstruct justice. Their alleged conspirators, Christopher Anderson, 47, Richard Curry, 36, and Alaa Mohamed Hattab, 35, previously pleaded guilty to conspiracy to commit securities fraud.

According to Sellinger, the indictment alleges that Weinstein and Bromberg defrauded victim investors out of tens of millions of dollars. After Weinstein’s release from prison following a commutation, he allegedly resumed defrauding victims by falsely promising access to deals involving medical supplies, baby formula, and first-aid kits for wartime Ukraine.

FBI Special Agent in Charge James E. Dennehy stated, “Our investigation shows those ventures weren’t real, and to use the exact words the subjects used – it was a Ponzi scheme. Weinstein squandered his pardon from the highest office in this country for similar criminal behavior. He now faces justice, a second time.”

Weinstein’s previous convictions involved a real estate Ponzi scheme and additional fraud while on pretrial release. Despite being commuted in 2021, he allegedly started a new scheme through a company called Optimus Investments Inc. Using the fake name “Mike Konig,” Weinstein ran Optimus with Bromberg and Joel Wittels. They received investor money through Tryon Management Group LLC, owned by Anderson and Curry, promising lucrative opportunities related to COVID-19 and the Ukraine conflict.

The charges against Weinstein, Bromberg, Wittels, and Erez are allegations, and they are presumed innocent unless and until proven guilty.