https://www.siliconvalley.com/2023/01/17/la-man-swindled-47-million-from-orthodox-jews-in-ponzi-scheme-sec-alleges/

A 35-year-old man who allegedly bilked Orthodox Jewish investors in Los Angeles and New Jersey out of $47 million and then fled to Israel has been charged by the U.S. Securities and Exchange Commission with using the proceeds to fund a lavish lifestyle.

The SEC alleged in a lawsuit filed Thursday, Jan. 12, in U.S. District Court that from December 2018 to January 2021, Yossi Engel induced at least 29 individuals to invest in his company, iWitness Tech, LLC by claiming their funds would be used to purchase and install security camera equipment.