« Netanyahu Will Soon Dump Secularists And Zionist Orthodoxs And Will Return Sefardi Haredi Shas Party To Power, Rabbi Ovadia Yosef Says | Main | Meir Dascalowitz Reportedly Pleads Guilty »

April 18, 2013

Chabad Rabbi Joseph Gutnick Sued For More Than $1 Million In Pump-And-Dump Stock Scheme

Rabbi Joseph Gutnick 2Chabad mining magnate Rabbi Joseph Gutnick allegedly tricked a man who came to him for financial help and swindled $1 million from him in a pump-and-dump stock swindle, a Melbourne court was told this week.

  Rabbi Joseph Gutnick 2

Rabbi Joseph Gutnick

Chabad Rabbi Joseph Gutnick Sued For More Than $1 Million In Pump-And-Dump Stock Scheme
Shmarya Rosenberg • FailedMessiah.com

Chabad mining magnate Rabbi Joseph Gutnick allegedly tricked a man who came to him for financial help and swindled $1 million from him in a pump-and-dump stock swindle, a Melbourne court was told this week.

According to the Herald Sun, Roy Tashi told the Supreme Court that he went to Gutnick for help after losing his $500,000 per year job in 2010 and was in such financial difficulty that he was about to sell his family’s home.

"I was stretched financially. Mr. Gutnick appeared to be sympathetic to my situation. I trusted him,” Tashi told the court.

Tashi testified that Gutnick convinced him to buy shares in a company that was mining gold in Canada. He said Gutnick told him that he had shares he could have sold to Tashi at a "bargain price.” But Gutnick allegedly claimed that he could not be personally involved in the sale because he was on the company’s board of directors and was the company’s chairman.

Tashi testified that his dire financial situation he arranged for his company to buy $1 million worth of those shares on a payment plan, believing Gutnick’s claim that he would soon be able to sell the shares at a good profit – a tactic Gutnick has allegedly used in the past to ensnare naive or desperate investors.

Tashi told the court that he did not properly assess the risk of the investment because he "relied on the goodwill of Mr Gutnick" – a pillar in the local Chabad community and worldwide.

"I knew Mr Gutnick as very generous, someone I had respected. This, to me, was not a typical investment. It was an opportunity to retrieve some of my financial standing in a relatively short period of time. I wouldn't have bought them if I knew he was selling them to me at market price, not bargain price," Tashi testified.

Tashi is suing Gutnick for $1 million in actual losses plus damages. The suit claims that Gutnick was misleading and deceptive, and didn't make the proper disclosures required by law.

Tashi says he paid 15 cents per share more than Gutnick, that Gutnick had a stake in the company that handled the transaction, and that the shares Tashi purchased now had no value.

Gutnick denies liability and the case is continuing.

Gutnick served as the late Lubavitcher Rebbe Menachem Mendel Schneerson’s personal emissary to the State of Israel with special responsibility to block any land for peace deals with Israel’s neighbors of the Palestinians.

He is widely known for putting millions of dollars into right wing politician Benjaimin Netanyahu’s 1995 campaign for prime minister, and marshaling Chabad’s resources to turn out the vote for Netanyahu. He was responsible for the campaign slogan, “BB is good for the Jews” – implying the other candidates, all Jewish, all Israeli patriots, were not.

Gutnick has also been linked to other affinity stock swindles and pump-and-dump scams, but has yet to be indicted or convicted of any wrongdoing – even though dozens if not hundreds of Chabad followers in Crown Heights and Kfar Chabad alone, many of them ba'al teshuvas and converts, allegedly lost their life savings.

Gutnick, who comes from a well-connected old-line Chabad family, is still a pillar of the Chabad community.

Related Posts:

Gutnick, Chabad, Aish, Alleged Stock Market Affinity Schemes.

Gutnick Knew Of Child Sex Abuse Claims In 2003.

Gutnick Targeted In Terror Plot.

Comments

Feed You can follow this conversation by subscribing to the comment feed for this post.

that's all i wanted to hear .
the moral of the story is NEVER TRUST chaBAD for ANYTHING . NOTHING .

chaBAD ' social ' relationship with secular jews are 100% fake . chaDAB is not honest . whatever the situation is , chaBAD will USE you to their own advantage .

i hope gutnick will go to jail for a very long time , just like the notorius sholom ruBASHkin . even if he can afford the best criminal laywer . or pay roy tashi BIG money.

ps. who can trust someone who has the appearance of a sorcerer ? seriously .
chaBAD physical appearance tells everything about them . it's a red flag .
decent, normal ppl should think twice dealing anything with them .
those who don't end up in court.


Written by
Mareesa Nicosia

Filed Under

News
Rockland County, New York

MONSEY — A 3-year-old boy is being treated for serious injuries after he bolted into the path of an oncoming vehicle and was struck Wednesday evening, police said.

The boy suffered from internal injuries and possible broken bones but no life-threatening injuries, Ramapo police Sgt. Margaret Sammarone said.

The boy and his mother, both Monsey residents, were walking on the sidewalk on Rita Avenue just before 6 p.m., Sammarone said.

The driver, a 32-year-old man also from Monsey, was traveling west on Rita Avenue when the accident occurred, she said.

“As far as I know he was walking with his mother when he bolted out into the street,” she said.

Police don’t plan to issue any tickets.

Emergency responders from Hatzoloh Ambulance Corps treated the youngster at the scene and took him to Westchester Medical Center, where he was in the pediatric Intensive Care Unit Thursday morning, Sammarone said.

@ who would trust chaBAD, ( the case of beth alexander).

chaBAD is evil. vienna chaBAD, jacob biderman tricked beth alexander. he told her, her busband will give her the get quickly if she drops the custody battle . biderman persuaded her to drop the custody battle ,stating no matter what she will get the kids . she believed him. she did .

she never got the kids .

dr schlesinger ( beth's husband) paid rabbi biderman to pressure his wife to give up the custody battle . the twins need their mother and MORE , beth needs to be with her children . but chaBAD is evil, they don't care . all they care for is the money .

biderman screwd up the case and came out glorious . and now the twins will grow up without their mother thanks to the evil chaBAD 'rabbi' biderman. do you know how painful it is for a mother to have her children away from her ? chaBAD is disgusting . they are nazis .

judge will say
go to work, stupid!
how do you believe in stocks ? go to buy a megamillion ticket and you have more chances

@believe, all judges around the world know very well that chassidim 'don't go to work' . chassidim scam or collect .

Who is this Roy Tashi?

Well, I'll tell you.

He is in investment parlance, an Accredited investor, which means that he KNOWS the risks, and he has the financial resources to absorb the possible losses.

Tashi "came to him [Gutnick] for financial help...after losing his $500,000 per year job in 2010."

Aside from what one thinks of Gutnick, there is WAY more to this story than what is contained within this post.

Here is his background from his website:

http://www.mongoliafund.com

Roy Tashi, OAM

Roy Raphael Tashi is co-founder of the Mongolia Fund and serves as its Executive Director. He has extensive experience in establishing, building and developing a variety of businesses in various sectors including manufacturing, distribution, importing, exporting and trading. He has focused on private equity investments where he added value as a director or serving on the advisory board assisting in developing strategy and overseeing the drive for growth. He has been involved in both private and public companies and continues to serve as a director on a number of companies. Mr Tashi has also been involved in property development in Australia and the United States of America. Whilst based in Australia, his experience extends to Asia, Europe and the United States.

joseph gutnick is the bernard madoff of australia . he is a scammer .

in 2000 , gutnick was found guilty to have illegally structured a take over of Great Central mining . he was ordered to return $28.5 millions to investors .
gutnick resigned as director of Great Central mining .

gutnick has a long history of criminal activities . in 2004, gutnick was the target of a terrorist plot to have him killed . gutnick is always surrounded by body guards and never walks by himself anywhere . he is constantly afraid for his life .

"believing Gutnick’s claim that he would soon be able to sell the shares at a good profit"

I am very sympathetic to the suffering of others but it is hard to be so when anyone thinks they can "get rich quick". It is nothing but gambling, at best.

roy raphael tashi might be a smart entrepreneur, but he is also stupid , as smart as he is . stupid to deal with a chaBAD crook . now, he knows he acted stupid .

כֵּן יֹאבְדוּ כָל-אוֹיְבֶיךָ, יְ--ה
-31-5 שׁוֹפְטִים

What a crook, just like the rest of the movement; Chabad should study the laws of genevah and mussar rather than waste their time in the esoteric gibberish of the Tanya and other Hassidic works,

Chicago Sam | April 19, 2013

Not really, CS. They are thriving in throwing sand in peoples eye, and getting away with it unpunished.
It doesn't pay for them to be honest. Their trade is that of robbing.

Verify your Comment

Previewing your Comment

This is only a preview. Your comment has not yet been posted.

Working...
Your comment could not be posted. Error type:
Your comment has been posted. Post another comment

The letters and numbers you entered did not match the image. Please try again.

As a final step before posting your comment, enter the letters and numbers you see in the image below. This prevents automated programs from posting comments.

Having trouble reading this image? View an alternate.

Working...

Post a comment

----------------------

FailedMessiah.com is a reader supported website.

Thank you for your generous support!

----------------------

----------------

----------------

Please Scroll Down Toward The Bottom Of This Page For More Search Options And For A List Of Recent Posts

Recent Posts

Audio: Rabbi Eliezer Silver on Child Sexual Abuse.

Do you need help leaving an ultra-Orthodox community or navigating life outside one? Call Footsteps.

Tip Jar

Gelt Is Good!

Tip Jar
Jibbadgefinalist

Tip Jar

Gelt Is Good!

Tip Jar

Comment Rules

  • 1. No anonymous comments.

    2. Use only one name or alias and stick with that.

    3. Do not use anyone else's name or alias.

    4. Do not sockpuppet.

    5. Try to argue using facts and logic.

    6. Do not lie.

    7. No name-calling, please.

    8. Do not post entire articles or long article excerpts.

    ***Violation of these rules may lead to the violator's comments being edited or his future comments being banned.***

Rubashkin Protest Gear

  • Rubashkin_parody_1

    Buy one of these and wear it to shul. Other Rubashkin gear as well. Protest!
  • Rubashkin_label_parody_1

    Wear this amazing T-shirt to your local supermarket. Better yet, buy a dozen and bring your friends – with signs! Available here!

Older Posts Complete Archives

Search FailedMessiah

Lijit Search

----------------------

FailedMessiah.com is a reader supported website.

Thank you for your generous support!

----------------------

----------------------

FailedMessiah.com in the Media

Tip Jar

Gelt Is Good!

Tip Jar

RSS Feed

Blog Widget by LinkWithin