Prosecutor: Israeli Woman Oversaw $145M Investor Fraud Plot

By Michael Kunzelman | 16 July 2019

ASSOCIATED PRESS — Recorded telephone calls, company emails and videotaped evidence will show that an Israeli woman oversaw a “massive” scheme to defraud tens of thousands of investors across the globe out of tens of millions of dollars, a federal prosecutor told jurors Tuesday.

“She trained (employees) to lie to victims, over and over and over again,” Justice Department prosecutor Caitlin Cottingham said during opening statements for Lee Elbaz’s trial in Maryland.

But an attorney for Elbaz said the 38-year-old woman didn’t condone any of the fraudulent tactics used by employees who worked under her supervision at a call center in Israel. Defense lawyer Barry Pollack said the evidence will show Elbaz never intended to defraud investors “even if others around her did.” […]

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