Toms River Man Pleads Guilty in $47 Million Ponzi Scheme That Targeted Orthodox Jewish Investors

Federal prosecutors say a Toms River man admitted orchestrating a Ponzi-like investment scheme that defrauded more than 97 investors out of approximately $47 million, using millions of dollars to fund gambling and other personal expenses.

TOMS RIVER, N.J. — In a New Jersey courtroom this week, a Toms River man has p...