Overview
- U.S. District Judge Michael Shipp imposed the sentence in Trenton and returned Weinstein, 51, to federal custody.
- A jury convicted Weinstein in March of defrauding investors of roughly $35 million through false promises of scarce medical supplies, baby formula and first-aid kits for Ukraine.
- The court ordered $44,294,803 in restitution due immediately, according to court documents.
- Prosecutors had sought a sentence of up to 50 years after co-defendants testified he orchestrated the scheme while using the alias “Mike Konig.”
- The punishment follows two prior federal fraud cases in New Jersey that caused about $230 million in losses.