Eliyahu ‘Eli’ Weinstein, also known as Mike Konig, among five men accused of defrauding dozens of investors out of $35m

A New Jersey man who was twice convicted of defrauding investors out of $230m and whose lengthy prison sentence was commuted by Donald Trump when he was US president is once again facing fraud charges, federal prosecutors in New Jersey announced on Wednesday.

Eliyahu “Eli” Weinstein, 48, of Lakewood, who is also known as Mike Konig, is among five men accused of defrauding dozens of investors out of $35m, according to an arrest complaint unsealed in federal court in Trenton. The five are charged with wire fraud conspiracy and conspiracy to obstruct justice, and each could face up to 25 years in prison.