Rabbi accused of nursing home Ponzi scheme ordered to pay $13M to investor
A North Shore rabbi has been ordered to pay $13 million in his ongoing legal battle over an alleged real estate Ponzi scheme that bilked investors out of more than $35 million.
Zvi Feiner, rabbi of an Orthodox Jewish Congregation in Skokie and head of the Feiner Investment Corporation, stands accused of using his status in the Jewish community to entice investment into nursing homes, which he would acquire and ultimately sell without paying back investors.
His alleged victims include a 90-year-old Holocaust survivor, a group of Jewish day school teachers that lost their life savings in the scheme, and a fellow Orthodox Jewish…
View original post 1,626 more words