I was informed by a very upset investor who lost 150,000 that he reported this whole scam to the FBI. He told me that he gave up on ever seeing his money but is fuming that they still try and raise more money and continue to have foolish conference calls like they did last night. He mentioned a few organizations in monsey in the report that are involved- one of them being Tomchei Shabbos of Monsey.
There are some real upset investors who have had enough.
It is disturbing that leadership of tzedaka organizations are involved in raising money for something like this.