Man Pardoned By Trump Tangled in Ukraine Fraud Allegations Alleges SEC

On Monday, Eliyahu Weinstein, who had his 24-year sentence commuted by former President Donald Trump, was charged with fraud, following his involvement in an alleged scheme that began soon after his release from prison.

What Happened: Weinstein, previously convicted of defrauding investors twice, resulting in combined losses of about $230 million, is now facing charges brought by the U.S. Securities and Exchange Commission (SEC).

The SEC alleges that Weinstein and five others used funds from investors to pay earlier investors, misrepresenting the funds as investment returns when some deals failed to turn a profit, The Hill reports.

“Weinstein, along with four other individuals, has once again perpetrated a sophisticated fraud scheme causing losses of millions of dollars,” said U.S. Attorney Philip Sellinger, in a statement, according to the report.

“He did so by using a fake name and falsely promising access to deals involving scarce medical supplies, baby formula, and first-aid kits supposedly destined for wartime Ukraine.”

See Also: Trump Reportedly Plans To Offer Pardons To Allies In Jan 6 Riots, Mar-A-Lago Cases If Re-Elected In 2024

Why It Matters: Trump, a candidate for the 2024 presidential election, has previously pardoned sentences of individuals like political strategist Roger Stone and former Illinois governor Rod Blagojevich.

Stone was convicted on seven counts, including witness tampering and making false statements, but was later granted a full pardon by Trump. Similarly, Blagojevich, who was sentenced to 14 years for corruption charges, had his sentence commuted by the former President.

Trump has been known to use his power of clemency for allies and associates, a trend that could potentially continue if he were to be re-elected.

Photo Courtesy: Shutterstock.com

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