video: A Ponzi Schemer Freed by Trump Strikes Again - Bloomberg Originals (20 min) [View all]

Dec 15, 2025
Eli Weinstein is a convicted fraudster who stole millions of dollars from investors at the height of the pandemic. He was able to do so because President Donald Trump during his first term commuted his 24-year sentence for a previous conviction. Now Weinstein is said to be planning to ask Trump for clemency again.

Within months of his release in 2021, Weinstein returned to scamming, stealing from unsuspecting victims until he was caught and convicted again, this time sentenced to 37 years in prison. While the administration contends it carefully weighs all petitions, the case points up what critics argue is a radical new system of how presidential clemency is granted, one where financial resources, connections and politics govern who goes free and who does not.

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Highlights:
• 3:45 Released in January 2021, Weinstein started the new scheme by July 2021.
• 4:30–10:30 anatomy of the scheme
• 10:45–16:00 the pay-to-play nature of the Trump clemency process
• 16:00–17:10 ⚠️ the process as described by a twice successful litigator (and Trump sympathizer)
• end of video: While not ruling out a 2nd attempt at clemency, Weinstein's lawyers state they are focused on the appeals process.

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Prior DU threads:
• Ponzi Schemer Who Got Trump Clemency Charged in New Fraud
• Ponzi schemer who got Trump clemency faces 50 years in new fraud
• 2 men that Trump pardoned sentenced to prison for new crimes just this week