2020-09-25 sec-litreleases litigation_release 64 KB 1,270 chars

SEC v. Zvi Feiner; Erez Baver; and FNR Healthcare, LLC, No. LR-24918, Northern District of Illinois (Sept. 25, 2020) — Press Release

raw: Zvi Feiner, et al.

Zvi Feiner, et al., No. LR-24918 (Sept. 25, 2020)

Caption: SEC v. Zvi Feiner, et al.

summary

Zvi Feiner and Erez Baver were criminally indicted for wire fraud in an investment scheme targeting the Orthodox Jewish community, raising $10 million from 62 investors with misrepresentations and misappropriation.

paragraph

Zvi Feiner and Erez Baver, Chicago residents, were charged with operating a fraudulent investment scheme targeting the Orthodox Jewish community. The scheme allegedly raised approximately $10 million from at least 62 investors between 2014 and 2019 by misrepresenting the risk and returns of nursing home investments. The defendants misappropriated funds for personal use and to pay earlier investors, leading to criminal wire fraud charges and a civil complaint by the SEC.

narrative

Zvi Feiner and Erez Baver, Chicago residents, were criminally indicted for wire fraud in connection with an investment scheme targeting the Orthodox Jewish community. The scheme allegedly raised approximately $10 million from at least 62 investors between 2014 and 2019 by misrepresenting the risk and returns of nursing home investments. The defendants misrepresented to investors that their investments were low-risk and would generate high returns, and misappropriated investor funds for personal use and to pay distributions to earlier investors. The SEC previously entered judgments against Feiner, his company FNR Healthcare, LLC, and Baver, with certain monetary relief and penalties still to be determined by the court on motion by the SEC. A federal grand jury issued the indictment on September 3, 2020, stemming from substantially the same misconduct alleged in the SEC's complaint filed on September 19, 2019. The court in the SEC case previously entered judgments against Feiner, FNR, and Baver, with ongoing proceedings to determine monetary relief and penalties.

Enriched metadata

Scheme: affinity-fraud (100%)
Court: Northern District of Illinois
Outcome: indicted · 2020-09-25
Victim loss: $10,000,000
Victims: 62
Entity: Zvi Feiner

Classified affinity-fraud(confidence 100%). EDGAR detection: forms Form D· recall 58% / precision 2%. detection rule →

Extracted insights

Dollar amounts 1

$10.00M $10 million $10M–$100M

Entities 4

agency by a federal grand jury
person erez baver
scheme_term wire fraud
person zvi feiner

Triples 38

Zvi Feiner and Erez Baver were charged with wire fraud
SEC filed a complaint against Zvi Feiner
Zvi Feiner charged wire fraud
Zvi Feiner indicted by a federal grand jury
Zvi Feiner operating an investment scheme targeting the Orthodox Jewish Community
SEC filed a complaint against Feiner
Zvi Feiner charged with wire fraud
Erez Baver charged with wire fraud
SEC filed complaint against Zvi Feiner
Zvi Feiner charged with wire fraud
Erez Baver charged with wire fraud
SEC filed complaint against Zvi Feiner
Zvi Feiner charged with wire fraud
Erez Baver charged with wire fraud
SEC filed complaint against Zvi Feiner
Zvi Feiner charged with wire fraud
Erez Baver charged with wire fraud
Zvi Feiner operating investment scheme
Zvi Feiner targeting Orthodox Jewish Community
Zvi Feiner indicted September 3, 2020
SEC filed complaint
SEC filed September 19, 2019
Zvi Feiner charged with wire fraud
Erez Baver charged with wire fraud
SEC filed complaint against Zvi Feiner
SEC charged Zvi Feiner, et al.
Zvi Feiner and Erez Baver operated an investment scheme targeting the Orthodox Jewish community
federal grand jury issued an indictment
indictment charged Zvi Feiner and Erez Baver with wire fraud
SEC filed a complaint against Feiner on September 19, 2019
SEC charged Zvi Feiner, et al.
Zvi Feiner was charged with operating an investment scheme
Zvi Feiner and Erez Baver were charged with wire fraud
United States issued an indictment against Zvi Feiner and Erez Baver
SEC filed a complaint against Zvi Feiner
Zvi Feiner was indicted by a federal grand jury
SEC v. Zvi Feiner was filed on September 19, 2019
United States v. Zvi Feiner was filed on September 3, 2020

View original SEC litigation releasesec.gov

Extracted body text (1,270c)

Individuals Charged by SEC with Operating an Investment Scheme Targeting the Orthodox Jewish Community Criminally Indicted Litigation Release No. 24918 / September 25, 2020 SEC v. Zvi Feiner, et al., No. 19-CV-06269 (N.D. Ill., Sept. 19, 2019) United States v. Zvi Feiner, No. 20-CR-588 (N.D. Ill., Sept. 3, 2020) On September 3, 2020, a federal grand jury issued an indictment charging Chicago residents Zvi Feiner and Erez Baver with wire fraud. The conduct underlying the indictment stems from substantially the same misconduct alleged in the SEC's complaint, filed on September 19, 2019 against Feiner, Baver, and Feiner's company FNR Healthcare, LLC. The Commission's complaint alleged that, beginning in 2014, the defendants raised approximately $10 million from at least 62 investors to acquire nursing homes and assisted living facilities throughout the Midwest. The defendants misrepresented to investors that their investments were low-risk and would generate high returns, and misappropriated investor funds for personal use and to pay distributions to earlier investors. The court in the SEC case previously entered judgments against Feiner, FNR, and Baver, with certain monetary relief and penalties still to be determined by the court on motion by the SEC.

OCR text (1,270c · html-text · 99% conf)

Individuals Charged by SEC with Operating an Investment Scheme Targeting the Orthodox Jewish Community Criminally Indicted Litigation Release No. 24918 / September 25, 2020 SEC v. Zvi Feiner, et al., No. 19-CV-06269 (N.D. Ill., Sept. 19, 2019) United States v. Zvi Feiner, No. 20-CR-588 (N.D. Ill., Sept. 3, 2020) On September 3, 2020, a federal grand jury issued an indictment charging Chicago residents Zvi Feiner and Erez Baver with wire fraud. The conduct underlying the indictment stems from substantially the same misconduct alleged in the SEC's complaint, filed on September 19, 2019 against Feiner, Baver, and Feiner's company FNR Healthcare, LLC. The Commission's complaint alleged that, beginning in 2014, the defendants raised approximately $10 million from at least 62 investors to acquire nursing homes and assisted living facilities throughout the Midwest. The defendants misrepresented to investors that their investments were low-risk and would generate high returns, and misappropriated investor funds for personal use and to pay distributions to earlier investors. The court in the SEC case previously entered judgments against Feiner, FNR, and Baver, with certain monetary relief and penalties still to be determined by the court on motion by the SEC.