SEC v. Leor Moshe, Jacob Goldman, Isaac Odes — U.S. Securities and Exchange Commission Litigation Release No. 26610, dated August 13, 2026.
The SEC charged three individuals in Toms River, New Jersey, for orchestrating an affinity investment fraud that defrauded over 87 investors, primarily from Orthodox Jewish communities, out of approximately $47 million. The scheme involved promises of high fixed returns on short-term business loans, but the funds were allegedly misappropriated for personal use and Ponzi-like payments.
In Plain English
Imagine someone you trust, who is part of your community, asks you to invest in their company. They promise big, quick profits by lending money to small businesses. But instead of helping businesses, they secretly take the money for themselves and use new investors' money to pay off earlier ones, like a house of cards. Eventually, many people lose their savings.
Disclaimer: all facts are drawn from the SEC's own filings; the claims described are allegations unless and until a court rules or the parties settle, and some cases end in dismissal.
How the Alleged Scheme Worked
- The Pitch Leor Moshe, an active member of the Orthodox Jewish community, approached investors, many of whom were also members of this community, promising significant fixed returns (between 22% and 53% on one-year investments). He claimed their money would fund short-term loans for small businesses needing immediate capital.
- Investment Vehicle Investors sent their money to Moshe's company, Capital Funding ASAP LLC, believing it would be used for legitimate business lending as represented.
- Misappropriation of Funds Instead of funding business loans, Moshe allegedly misappropriated at least $11 million from investors. These funds were used for personal expenses such as gambling debts, credit card bills, mortgage payments, and car payments.
- Ponzi-like Payments Moshe also used more than $850,000 of investor funds to make Ponzi-like payments to earlier investors, creating a false impression of a successful and profitable operation.
- Recruitment by Associates From August 2021 through June 2023, Moshe paid Jacob Goldman and Isaac Odes, also Toms River residents, to recruit new investors. These recruiters were not registered broker-dealers.
- Solicitation and Fund Collection Goldman and Odes solicited over $23 million from at least 25 investors. They negotiated investment terms and facilitated the collection of funds, receiving transaction-based compensation for their efforts.
- Investor Losses Mount By the time the scheme collapsed in mid-2023, investors across multiple states had lost more than $25 million due to the fraudulent activities.
The Enforcement Action
The SEC charged Leor Moshe, Jacob Goldman, and Isaac Odes with securities fraud and broker-dealer registration violations. The complaint seeks permanent injunctive relief, disgorgement of ill-gotten gains with prejudgment interest, and civil penalties against the defendants. A parallel criminal action was also announced by the U.S. Attorney's Office for the District of New Jersey against Moshe.
Named in this action: Leor Moshe, Jacob Goldman, Isaac Odes.