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May 30, 2013

Head Of Chabad In Sydney And Son Lose $1.6 Million Beit Din Judgement In Loan Ponzi Scheme

Rabbi Pinchus and Rabbi Yossi FeldmanThe scandal-ridden Feldman family is at it again. Rabbis Pinchus and Yossi Feldman took more than $1.6 million from Rabbi Shabsi Tayar in a form of a Ponzi scheme that allegedly resembles check kiting. The Feldman's refused to repay the money, claiming their collateral – family homes, etc. – were entered into the loan agreement without their wives' permission, and therefore could not be sold to pay the debt owed.

Rabbi Pinchus and Rabbi Yossi Feldman

Originally published at 11:03 pm CDT 5-29-2013

As FailedMessiah.com reported yesterday, the scandal-ridden Feldman family is at it again.

Chabad's head rabbi of Sydney, Australia and New South Wales Pinchus Feldman and his son Rabbi Yossi Feldman (who is infamous for arguing that alleged child sex abuse should be reported to rabbis, not to police) took more than $1.6 million from Rabbi Shabsi Tayar in what I've been told is a form of a Ponzi scheme that allegedly resembles check kiting. The Feldmans refused to repay the money, claiming their collateral – family homes, etc. – were entered into the loan agreement without their wives' permission, and therefore could not be sold to pay the debt owed.

(The Feldmans allegedly did this to many people; only Tayar, however, has filed suit so far.)

The Feldmans are appealing the beit din decision and, even though the decision was entered early this month, so far the Feldman's have repaid the bankrupt and impoverished Tayar only $500.

And when Tayar and his wife complained about that, the Feldmans threatened the Tayars via email and telephone to keep them from talking to the media or going to police.

The AJN has a small part of the story:

AJN Tayer v Feldman beit din case 5-30-2013
Related Post: New Chabad Scandal In Sydney.

 

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Hope the Beit Din awarded the proper amount. ,meaning not less than what was owed.


Good going Beit din!

The Feldmans are appealing the beit din decision
how and to whom does one appeal a beit din decision? does Australia allow beit din decisions to be appealed to the secular courts? surely there is no appellate division of the beit din itself?

Since it doesn't relate to abusing children Feldman holds that it's OK to go to the Supreme court....

And since this case involves Feldman doing credit card fraud the police MUST be called in....

it just boggles the mind...
they can do stuff like this...
and judge other jews for not being like them "religious wise"
my g-d!
bunch of jerks.
very religious and wow! your names are just SO important for
shidduchim!!
what a bunch of hypocrites.

Usually courts don't supersede beit din rulings because most battei din secure binding arbitration agreements before the start the case. Most courts respect binding arbitration agreements. But just as a superior court (under whatever terminology) can void a ruling where there is corruption or violation of judicial rules,civil courts on rare occasions have voided beit din rulings. This seems to be one of those cases where you don't have to be a rabbi to know that the beit din violated the most elementary requirements of fairness. If there was a legitimate ultimate halachic power in Australia, the rabbis on that beit din would all be in cherem and jail by now. they are fraudsters hiding behind the cloak of halachah.

More fruit of their "Rebbe Shlita"...

So two blood-sucking maggots fucked a colleague out of his life savings and are bristling that their other colleagues are making them pay him back? A credit to us all.

You guys are commenting on a story you do n't really know about. In this case Tayar was the less of too evils. He probably whouldn't have the balls to take it to a non jewish court because he would look terrible. While it was all going on he was living the life with all the interest he was getting on the loan. There are a lot of other people who are out of money that weren't part of the Ponzi scheme and still haven't been paid. Ie teachers, suppliers of services and equipment etc.,

The Beth din was made up by rabbis who were not chabad.
they were from melb's charedi adass community

been tearing through the texts this morning - and while I leave open the distinct possibility that I might of missed something, I will say that I can find exactly nothing that indicates that a contract can be invalidated because one's wife was not informed as to the collateralization of joint property.

Just the opposite appears to be true.

The argument is that under Australian law, the judgement is not enforceable because the wives never agreed to the terms.

The Feldmans' claim has nothing to do with halakha.

The wives are arguing that they did not understand the agreements.

The Australian High Court decision in Garcia v. National Australia Bank Limited [1998] upheld the principle contained in Yerkey v. Jones (1939) that if a married woman agrees to act as surety for her husband's debt without understanding the effect of this agreement and executes an instrument of suretyship which the creditor accepts without dealing with the women face-to-face, she is entitled to have the instrument set aside (the principle of 'special equity').

This decision requires that the wife be offered an independent explanation of the potential effect of the surety agreement.

It has been argued that the reasoning behind the 1939 decision should no longer apply seeing in general that the social and educational position of married women is not what it was back then, but the Australian High Court felt that many women still were vulnerable to having their trust in their husbands abused and needed protection

Barry, aside from the frumpls, does the law protect all spouses, regardless of gender, in this type of transaction?

It protects all spouses.

If you want a wife to potentially prejudice her financial position, then make sure she gets independent advice before you hand over any money.

"The argument is that under Australian law"

Turns out we have the same law in Wisconsin. Wife has to sign that she agrees the loan has been made and that it is "in the benefit of the family". It is the responsibility of the lender to get that document signed before turning over loan proceeds. Failure to do so runs the risk of a ruling along the lines of what is being reported. I am being told this is only one of 3 states that have requirements this strict.

Not saying Tayar SHOULD be out the money, but it does appear he'd have been well served paying a lawyer a few hundred bucks. Cheap insurance against what appears to be a $1.6 million loss.

rebitz! You're in Wisconsin? I've spent time in Wisconsin. In Eau Claire, Black River Falls - going to Madison next year. I heard there was a Jewish presence in Wisconsin. So, you're the one.

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