Ocean County Man Admits to Defrauding Orthodox Jewish Community Members of More Than $47 Million

TRENTON, N.J. – An Ocean County man admitted to defrauding more than 97 victims of more than $47 million through a Ponzi-like investment scheme, U.S. Attorney Robert Frazer announced. Leor Moshe, 43, of Tom’s River, New Jersey pleaded guilty to an Information charging him with wire fraud before U.S. District Judge Robert Kirsch in Trenton federal court. Sentencing is scheduled for December 16, 2026. “The defendant turned the trust of his own religious community into a tool for fraud, exploiting personal relationships to fuel a massive Ponzi scheme,” said U.S. Attorney Frazer. “Thanks to the combined efforts of our colleagues at the SEC and federal law enforcement, he has been brought to justice. Our Office will continue to expose financial fraud, protect the investing public, and hold accountable those who abuse positions of trust for personal gain.” “Investment fraud can drain people's bank accounts and also upend their lives. Dozens of victims placed their trust in promises made by Moshe, who admits he used their money to pay off his gambling habit, among other things,” said Federal Bureau of Investigations, Newark Field Office, Special Agent in Charge Stefanie Roddy. “FBI Newark will pursue anyone who breaks the law to exploit victims, and we will do all we can to bring justice to every victim impacted by fraudsters.” According to documents filed in this case and statements made in court: Between June 2019 and June 2023, Moshe induced investors to invest in his company, Capital Funding ASAP LLC, by falsely representing, among other things, that their investments would be used exclusively to fund short-term business loans that would generate returns between 9% and 53%. In reality, Moshe used the money to make Ponzi-like payments to earlier investors and for personal expenses such as gambling debts, home renovations, mortgage loans, and car loans. Moshe obtained approximately $47 million from investors, who were predominately members of the Orthodox Jewish community, and used approximately $11 million for personal expenses. The wire fraud charge carries a maximum penalty of 20 years in prison and a fine of $250,000, or twice the gross loss to the victim or gain to the defendant, whichever is greatest. U.S. Attorney Frazer credited special agents of the Federal Bureau of Investigation, under the direction of Special Agent in Charge Stefanie Roddy in Newark, and special agents under the Associate Director of the SEC’s New York Regional Office, Thomas P. Smith., Jr., with the investigation. On April 7, the Department of Justice announced the creation of the National Fraud Enforcement Division (“Fraud Division”). The Fraud Division is laser-focused on investigating and prosecuting those who commit fraud against the American people. The Department’s work to combat fraud supports President Trump’s Task Force to Eliminate Fraud, a whole-of-government effort chaired by Vice President J.D. Vance to eliminate fraud, waste, and abuse within Federal benefit programs. The government is represented by Assistant U.S. Attorneys Christopher Fell of the Economic Crimes Unit, and Jennifer Kozar, Chief of the General Crimes Unit, in Newark. ### Defense counsel: Steven Yurowitz, Esq. moshe.information.pdf