Next Madoff?: Lakewood NJ developer Eliyahu Weinstein arrested in alleged Ponzi scheme

Asbury Park Press reports:

Shackled in handcuffs and leg irons, Eliyahu Weinstein, the Lakewood real estate developer charged Thursday by federal agents with having "masterminded" a $200 million scheme to defraud his investors, listened in federal court as an assistant U.S. attorney detailed charges that could net him more than 50 years in prison.