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World
December 17, 2009
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.
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