Assisted living executive pleads guilty to wire fraud charge connected to multi-million dollar Ponzi scheme – News

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A Chicago businessman pleaded guilty Tuesday to a federal wire fraud charge in connection with a multi-million fraud scheme involving investors in the Orthodox Jewish community who invested in assisted living communities and nursing homes throughout the Midwest, Law360 reported.

Erez Baver, executive vice president and bookkeeper of Skokie, IL-based FNR Healthcare,  entered his plea in U.S. District Court Northern District of Illinois. The plea follows allegations that he and Zvi Feiner, former FNR Healthcare owner and CEO orchestrated a Ponzi scheme that defrauded at least 75 investors out of at least $22…

Read full article at www.mcknightsseniorliving.com