A Ponzi Schemer Freed by Trump Strikes Again

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. Learn more: Freed by Trump, a $200 Million Fraudster Started a New Scam - https://www.bloomberg.com/features/2025-eli-weinstein-ponzi-fraud/?srnd=phx-bigtake 0:00 The cost of clemency 1:37 The deal 3:04 Eli Weinstein’s second chance 4:45 Doing something good for the world 5:42 The puppet master 7:26 The brink of destruction 10:52 The story isn’t over 13:34 The purpose of clemency 15:31 The system 17:08 Out of chances? Help shape the future of Bloomberg Video. Share your feedback here: https://bmedia.iad1.qualtrics.com/jfe/form/SV_1CiMcQKuGYc1qTA?platform=OS -------- Like this video? Subscribe: http://www.youtube.com/Bloomberg?sub_confirmation=1 Get unlimited access to Bloomberg.com for just $1.99 your first month: https://www.bloomberg.com/subscriptions?in_source=YoutubeOriginals Bloomberg Originals offers bold takes for curious minds on today’s biggest topics. Hosted by experts covering stories you haven’t seen and viewpoints you haven’t heard, you’ll discover cinematic, data-led shows that investigate the intersection of business and culture. Exploring every angle of climate change, technology, finance, sports and beyond, Bloomberg Originals is business as you’ve never seen it. Subscribe for business news, but not as you've known it: exclusive interviews, fascinating profiles, data-driven analysis, and the latest in tech innovation from around the world. Visit our partner channel Bloomberg News for global news and insight in an instant.