Skip To Content
Fast Forward

Florida Man Targeted Orthodox Jews In $3 Million Ponzi Scheme

(JTA) — A Florida man targeted Orthodox Jews as part of a Ponzi scheme that cost his marks $3 million in losses.

Shayeh Dov, 49, is facing up to 20 years in prison and $250,000 in fines for his involvement in the fraudulent investment scheme that he ran from 2012-2018 and involved more than 30 people, The Sun Sentinel reported. He pleaded guilty to wire fraud last year and will be sentenced on Tuesday.

Dov, of North Miami Beach, sold mortgage notes that he did not own and were not for sale and sometimes sold the same notes to multiple people, court records say. Instead of using the money as promised, he spent it on gambling, renting luxury cars and paying for trips to the Bahamas, Israel and New York, according to The Sun Sentinel.

Court documents say he took advantage of the close-knit Orthodox community in Southern Florida and “almost exclusively” targeted its members.

“Dov exploited the community’s close bonds of trust and piety to obtain money for fraudulent investments,” records say, according to The Sun Sentinel.


Republish This Story

Please read before republishing

We’re happy to make this story available to republish for free, unless it originated with JTA, Haaretz or another publication (as indicated on the article) and as long as you follow our guidelines. You must credit the Forward, retain our pixel and preserve our canonical link in Google search.  See our full guidelines for more information, and this guide for detail about canonical URLs.

To republish, copy the HTML by clicking on the yellow button to the right; it includes our tracking pixel, all paragraph styles and hyperlinks, the author byline and credit to the Forward. It does not include images; to avoid copyright violations, you must add them manually, following our guidelines. Please email us at [email protected], subject line “republish,” with any questions or to let us know what stories you’re picking up.

We don't support Internet Explorer

Please use Chrome, Safari, Firefox, or Edge to view this site.