Solomon Dwek’s Sentencing Date Set

A sentencing date has been set for the informant at the center of New Jersey's largest ever corruption sting.

Solomon Dwek is facing up to 11 years in prison on bank fraud charges at his Oct. 18 sentencing in federal court in Newark. Dwek, a failed real estate developer and admitted Ponzi schemer, had agreed to wear a wire for the government in a plea deal after his arrest in a $50 million bank fraud.

Between 2007 and 2009, Dwek recorded hundreds of hours of conversations with public and elected officials as well as prominent members of his own Orthodox Jewish community. The case resulted in the arrest of more than 40 people on corruption and money laundering charges.

Dwek is currently in federal detention in Philadelphia.

(Copyright 2012 by The Associated Press. All Rights Reserved.)