Real Estate Fraud in Lakewood

There are some key lessons to take away from the story of the Lakewood man who bilked investors out of tens of millions of dollars in a real estate scheme, things we should already know but are very helpful to be reminded of:

* If something seems too good to be true, it probably is. The alleged crook, Eliyahu Weinstein, promised his investors huge, immediate payoffs from real estate investments. Do you know of very many people who are making a fortune in real estate right now?

* If something happens for no good reason, it probably happened for a bad reason. One of Weinstein's investors, after pestering Weinstein for a promised payoff, received a wire transfer worth $320,000 from a Lakewood charity called Kars 4 Kids. Why would a real estate investor get his money from a children's charity? There's no good reason.

* Be careful who you trust. Weinstein preyed on the close-knit Orthodox Jewish community, depending on their trust for one another to bring more victims into his schemes. Sadly enough, when it comes to investing, you really can't be too careful, even with friends and extended family.