Toms River, NJ man admits $47M fraud targeting Orthodox Jewish investors

💰 A Toms River businessman admitted to a fraud scheme that cost nearly 100 investors more than $47 million.

📈 Prosecutors say he promised returns as high as 53% to victims, many with little investing experience.

⚖️ He faces up to 20 years in prison and a potential fine of more than $94 million.

TOMS RIVER — A New Jersey businessman admitted to defrauding nearly 100 investors out of more than $47 million, including members of the Orthodox Jewish community who prosecutors say trusted him with their money.

Leor Moshe, 43, of Toms River pleaded guilty to wire fraud in Trenton federal court, the U.S. Attorney's Office said Thursday.

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The single count carries a maximum sentence of 20 years in prison and a potential fine of up to twice his illicit gains, which could reach $94 million. Sentencing is scheduled for Dec. 16, 2026.

“The defendant turned the trust of his own religious community into a tool for fraud, exploiting personal relationships to fuel a massive Ponzi scheme,” U.S. Attorney Robert Frazer said.

An attorney for Moshe did not immediately respond to a request for comment.

Nearly 100 investors lost more than $47 million, prosecutors say

Between 2019 and 2023, Moshe scammed more than 97 victims out of more than $47 million. His Lakewood-based company, Capital Funding ASAP, was the basis for the fraud scheme, federal prosecutors said. He promised the victims, who largely had no prior investing experience, huge returns of up to 53% on short-term business loans.

Instead of investing the money, Moshe used funds from new investors to repay earlier investors. He also took $11 million for personal expenses. Moshe paid off huge gambling debts, and then indulged in home renovations, mortgage loans, and car loans.

Welcome to Jackson sign (Dan Alexander, Townsquare Media NJ)

Court records show how investor money was quickly moved

In court documents, investigators laid out the details of how Moshe targeted four victims who lived in Lakewood and Brooklyn.

One investor sent $380,000 to Capital Funding ASAP on Feb. 5, 2021. Three days later, Moshe turned around and transferred $88,000 to his personal cryptocurrency account.

In January 2023, Moshe got another $350,000 from two more investors. On the same day, he took the money and paid $262,000 to two other previous investors.

One month later, in February, Moshe convinced another individual to invest $2 million in a Jackson property. He promised it would generate 53% interest within one year. However, he then spent the next three days after getting the money paying $820,000 to five previous investors.