Time for some proper due diligence/ independent auditing in our communities

[AsherO]

https://x.com/hitsamty/status/1843779460677423280

Good analysis, but that has everything to do with compliance/underwriting overhead which I still maintain was far from their only selling point.

[Young explorer]

Not sure if this is the right thread but worth a listen
https://open.spotify.com/episode/7lTVKDM3iFrNnHhEzJYNSA?si=457703c1d3b24f2f
https://youtu.be/7QO9Zh0LU5c?si=H6dJDDqcwybm09rs

[JMHO]

Not sure if this is the right thread but worth a listen
https://open.spotify.com/episode/7lTVKDM3iFrNnHhEzJYNSA?si=457703c1d3b24f2f
https://youtu.be/7QO9Zh0LU5c?si=H6dJDDqcwybm09rs

Paywall

[Young explorer]

Paywall

on Spotify it's free that's why I posted it first

[WayBackMachine]

on Spotify it's free that's why I posted it first

Not sure if this is the right thread but worth a listen

https://open.spotify.com/episode/7lTVKDM3iFrNnHhEzJYNSA?si=457703c1d3b24f2f

https://youtu.be/7QO9Zh0LU5c?si=H6dJDDqcwybm09rs

linebreaks are sometimes useful

[avromie7]

Paywall

That must've been temporary, it's available now.

Eli Tilson, a real estate professional and father of four facing a prison sentence, joins us to share his story—how things went wrong, what he’s learned, and why he’s choosing to speak out.
 
He hopes his experience can be a wake-up call for others.

Learn more about the organizations supporting him: The Aleph Institute can be found at https://aleph-institute.org and Project 432 can be found at https://p432.org


Time Stamps:

00:00 Intro
1:33 Eli Tilson's Background
3:25 Speaking Out About Going to Prison
5:52 The Support of Aleph Institute
8:11 Starting Off My Career
12:07 Twillory
13:17 Know Where You're At
18:02 Committing Fraud
20:19 Trying to Cover it Up
23:35 Not Proud of Who He Was
24:35 Getting Threats
25:45 The Donors' Fund
27:09 Paying Back The Money
27:38 Telling His Family He Was Convicted
30:17 The Process of Indictment and Sentencing
32:20 Telling His Children
34:30 The Emotions Behind Going To Jail
36:33 The Message to the People He Has Hurt
42:08 Getting Out of the Hole
42:53 Colel Chabad
44:41 Eli Tilson's Relationship with G-d
46:10 What Happens in Prison
47:46 Getting Sentenced to 15 Months
52:05 Realize What Your Priorities Are
55:20 Outro


#koshermoney #KosherMoneyPod #PersonalFinance #RealEstate #JewishCommunity

[Randomex]

linebreaks are sometimes useful

That doesn't mean leaving an empty line between 2 lines of text. It means starting a new line.

(So if it had been formatted like this -

https://open.spotify.com/episode/7lTVKDM3iFrNnHhEzJYNSA?si=457703c1d3b24f2f https://youtu.be/7QO9Zh0LU5c?si=H6dJDDqcwybm09rs

- that would be the applicable term.)

[aygart]

I find that sometimes when editing a post it removes linebreaks.

[Yehudaa]

Not sure if this is the right thread but worth a listen
https://open.spotify.com/episode/7lTVKDM3iFrNnHhEzJYNSA?si=457703c1d3b24f2f
https://youtu.be/7QO9Zh0LU5c?si=H6dJDDqcwybm09rs

Thanks for posting this. Just listened.

Kol hakavod to him for telling his story. Can’t imagine it was easy.

There’s a lot that can be learned from him, both in how to avoid what he did, and from his perspective on the consequences.

[jye]

http://podcast.headlinesbook.com/e/11924-–-shiur-488-–-tattoos-in-halacha-is-microblading-permitted-the-real-deal-–-avoiding-legal-trouble/

This is the 3rd first hand going to prison story publicized in the last couple of weeks. Sad.

[Danlover111]

http://podcast.headlinesbook.com/e/11924-–-shiur-488-–-tattoos-in-halacha-is-microblading-permitted-the-real-deal-–-avoiding-legal-trouble/

This is the 3rd first hand going to prison story publicized in the last couple of weeks. Sad.

Eli mentioned there is a frum yid going to prison for CC points...,What exactly was he charged with?

[Euclid]

Eli mentioned there is a frum yid going to prison for CC points...,What exactly was he charged with?

Sentenced to 2 years.

Anyone know the details of this "fraud"? The indictment is lacking basic information.

It's unclear, and doesn't seem like many (anyone?) know the details. Like is pointed out in the interview, CC "shtick" is quite common - and whatever this guy did should probably be publicized so others can learn what to avoid. He clearly was doing more than typical - but I'm sure there are plenty of people (including here on DDF) who may have done or may be doing something similar.

Publicizing it would be real *toeles harabim* (yes, this is a reference).

DMs open if you feel otherwise.

[zh cohen]

This is the 3rd first hand going to prison story publicized in the last couple of weeks. Sad.

What is the 3rd? I saw the KosherMoney one.

[jye]

What is the 3rd? I saw the KosherMoney one.

At the recent Dina D’malchusa event

[jye]

It's unclear, and doesn't seem like many (anyone?) know the details. Like is pointed out in the interview, CC "shtick" is quite common - and whatever this guy did should probably be publicized so others can learn what to avoid. He clearly was doing more than typical - but I'm sure there are plenty of people (including here on DDF) who may have done or may be doing something similar.

Publicizing it would be real *toeles harabim* (yes, this is a reference).

DMs open if you feel otherwise.

Probably this. The activity took place a while back and is beyond the typical DDF guy racking up points with Amex

https://www.app.com/story/news/local/courts/2024/11/01/eli-schamovic-lakewood-prison-for-money-laundering/75987777007/

[Euclid]

Probably this. The activity took place a while back and is beyond the typical DDF guy racking up points with Amex

I'm aware - this is just a paraphrasing of the indictment; it's lacking any real details. There's plenty of shtick going on out there in MS land that you may not be aware of.

MS has always operated in a grey area; if Amex was motivated enough they could get the government to charge most MSers with some sort of bank/mail/wire fraud. These are very broad laws.

I'm not aware of any law stating that you can't open a merchant account at a card processing company and swiping even your own cards. Other than Amex getting upset and saying that you're fraudulently trying to obtain bonus points, and referring you to the DA.

[jye]

I'm not aware of any law stating that you can't open a merchant account at a card processing company and swiping even your own cards. Other than Amex getting upset and saying that you're fraudulently trying to obtain bonus points, and referring you to the DA.

What you are describing is credit card factoring and it’s actually a felony. You are essentially swiping cards for a business not under the merchant account and making it look like a legitimate business transaction. It sounds sort of benign, especially if it is your “own other business”, but the reason they treat it so harshly is because it’s used to money launder illegal funds or illegal business activities in the guise of legitimate business operations.

[Euclid]

What you are describing is credit card factoring and it’s actually a felony. You are essentially swiping cards for a business not under the merchant account and making it look like a legitimate business transaction. It sounds sort of benign, especially if it is your “own other business”, but the reason they treat it so harshly is because it’s used to money launder illegal funds or illegal business activities in the guise of legitimate business operations.

Aha I learned something new! Thanks

(Not that I know anyone doing this specifically- was just guessing what he was doing based on the description.

ETA: I'm still not convinced this is what he was doing though

[gozalim]

Article describes losses caused. (I'm gonna guess charges defaulted, or something like that).
I think any real indictment will usually rest on 'real' damages

[sylk]

https://matzav.com/listen-avoiding-legal-trouble-with-eli-puretz-real-estate-syndicator/