Toronto’s Madoff, Tzvi Erez alledgedly swindles $27 million in ponzi scheme

Members of Toronto’s Jewish community have lost more than $27 million in a Ponzi scheme perpetrated by one of its own members, Canada’s National Post newspaper reported on Tuesday.

The alleged fraud involving 76 high-profile investors came to light after a small printing plant in the Richmond Hill section went bankrupt.

The scheme was allegedly run by Tzvi Erez, 42, a prominent community member who owned the small print shop and claimed he was brokering large jobs for blue-chip clients, according to two of his alleged victims who spoke to the National Post.

Read the full story at HAARETZ.com.