SEC Charges Toms River Trio in Connection with Alleged $47 Million Fraud Targeting Orthodox Jewish Communities

The Securities and Exchange Commission today charged three Toms River, New Jersey residents for their roles in an affinity investment fraud that raised approximately $47 million from more than 87 investors, who were primarily members of Orthodox Jewish communities in New Jersey and New York. The SEC’s complaint, filed in federal court in the District of New Jersey, alleges that between approximately November 2019 and June 2023, Leor Moshe, the scheme’s orchestrator, convinced investors, most of whom, like Moshe, were active members of the Orthodox Jewish community, to invest in his company, Capital Funding ASAP LLC. Moshe told the would-be investors that their money would be used to fund short-term loans for small businesses and their investments would lead to significant fixed returns.