TRENTON, NJ — Eliyahu “Eli” Weinstein, 51, a New Jersey man pardoned by former President Trump in 2021, has been sentenced to 37 years in prison for his third fraud conviction. Weinstein, who has also used the alias Mike Konig, defrauded investors of an estimated $35 million.
Weinstein promised access to deals involving medical supplies, baby formula, and first-aid kits destined for Ukraine, according to prosecutors. U.S. District Judge Michael Shipp also ordered Weinstein to pay $44,294,803 in restitution immediately.
In March, Weinstein was convicted of defrauding dozens of investors. His prior two convictions, which carried a combined 24-year sentence, had been commuted by Trump on his final day in office, allowing Weinstein to serve only eight years plus three years of supervised release.
Court documents reveal that Weinstein returned to fraudulent schemes almost immediately after his release. In messages to conspirators, he admitted to lying and “Ponzi-ing” investors, even describing it as “real fun.”
Weinstein’s initial convictions involved a real estate Ponzi scheme and another fraud committed while he was on pretrial release. His 2021 pardon was among 143 granted by Trump during the final hours of his first term, including high-profile figures like Steve Bannon.
This latest conviction underscores the risks of repeat offenders exploiting investor trust even after receiving presidential pardons.
