New Jersey Man Admits $47 Million Ponzi Scheme Targeting Ultra-Orthodox Community
Lior Moshe, 43, from Toms River, New Jersey, pleaded guilty in a federal court in Trenton to running a $47 million investment fraud scheme. The scam, which took place between June 2019 and June 2023, involved 97 victims, mostly members of the local ultra-Orthodox Jewish community. Moshe operated through his company, Capital Funding ASAP, promising investors high returns ranging from 9% to 53% by claiming their money would be invested exclusively in short-term business loans.
In reality, Moshe ran a classic Ponzi scheme, using new investors' funds to pay returns to earlier investors, while diverting approximately $11 million for personal expenses. These included repaying heavy gambling debts, extensive home renovations, mortgage payments, and car loans. The U.S. Attorney Robert F. Zauzmer condemned Moshe's betrayal of community trust, emphasizing the exploitation of personal relationships to fuel the fraud.
FBI Special Agent Stephanie Rudy highlighted the devastating impact of investment fraud on victims, noting Moshe admitted to using their money to support his gambling addiction. The FBI Newark office pledged to vigorously pursue anyone who exploits victims through financial fraud and to seek justice for those harmed. Moshe's sentencing is scheduled for December 16, 2026.
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