An open letter to the Editorial Boards of all Jewish Newspapers:

Once again a company (Purchase Plus) that was advertised in the Yiddish papers has declared bankruptcy and left many people with broken hearts and shattered dreams as many people lost their entire life-savings and were completely wiped out! This is not the first time this has happened. It happened with JewelWay, Winners Circle and Cornerstone. They have all since gone bankrupt and left people with broken promises and empty pockets. While I fully realize that newspapers can’t be held responsible to check out and investigate the legitimacy of every ad that appears in their pages, simple morals and ethics demand that they refuse to accept ads that are blatantly misleading, fraudulent and are designed to tempt the “blind” to lose their money. Any company that offers a person 3,000% interest, as did “Purchase Plus,” is an obvious fraud. While some people may see some checks back, they are only given to draw the mice to the trap.

By running such ads in their paper, they are lending credibility and dignity to these schemes. In effect, they may possibly become agents, accessories or accomplices in helping promote these swindles.

While it is certainly every individual’s responsibility to check out the authenticity of every ad, by accepting these ads the publishers are aiding in the spread of these schemes to the unwary public, causing the ignorant and naive to lose their hard-earned money,

Just as responsible newspapers do not accept advertisements for non-kosher products, they should not accept ads for non-kosher money schemes. It is true that people who respond to get-rich schemes are letting greed get the better of their judgment, but shouldn’t newspapers have a responsibility to protect the gullible? The papers lecture us in their editorials and columns on proper ethics and morals; don’t they apply to them as well? Aren’t they morally and ethically obligated to protect their readers from financial loss?

I think it is time that rabbonim affiliated with these papers voice their opinion. Those who lost money on account of them ought express their strong protest (respectfully, please!) at the editorial boards’ policy, and demand that this unacceptable practice stops. Is a Jewish newspaper willing to sell its soul for the few dollars it makes on these ads? We must not allow the con artists in our midst to use our Jewish Newspapers as a vehicle to scam and rob the Jewish community out of its hard earned money!

While I’m all for freedom of expression, one can’t shout fire in a crowded theater. Neither is it legal according to US law to accept such ads.

More: Newspapers actually have a responsibility to write articles that explain and warn the public not to invest their money in false promises. After all, “haTorah chasa al ma’monam shel Yisroel” so should they! Let them teach their readers the golden rule that says “anything that sounds too good to be true, probably is!” They ought teach them about Ponzi scams and illegal MLM scams so that their readers recognize these swindles and learn to keep their distance.

The Chinuch (mitzva #237) says that the lav in the Torah of “lo taamod al dam rei’ecah” includes not remaining silent when one sees another person’s money is being stolen! Someone who lost his life savings to a scheme advertised in a Jewish newspaper has called me to tell me of his troubles. Isn’t that bloodshed?

I find it abhorrent that I must take out a paid ad in “The Yid” and “The Tzeitung” warning people about the blatantly false ads they dare carry. This is outrageous! Let the one who helped spread the fire pay for putting it out. Let the one who allowed the “michshal” to appear in his paper, pay for the expenses of correcting it!  Now that it has been proven that I was right, I demand they return the money these ads cost me. After all, the mistake was their doing!

Respectfully

Rabbi Eli Teitelbaum

Public Beware!

Invest just $1,423. and receive $20,137. in return in just six weeks! Boduk U’menusah!

These and similar type advertisements appear weekly in many Yiddish newspapers read by thousands of Jews. Yet it seems that no matter how preposterous and impossible these claims sound, there are people who take the bait and bite the worm. It’s only much latter when these companies like JewlWay, Winners Circle, Purchase Plus and CornerStone go bankrupt leaving thousands of investors holding a huge bag filled with lots of shattered dreams, agony and despair, that people learn the age old adage that states that “if it’s too good to be true then it probably is”.

It seems like people will never learn their lesson and continue to fall for any scheme that offers quick and easy money, no matter how ridiculous, preposterous and absurd it sounds. The returns they promise should be a dead giveaway that it is nothing but a fraud. If there was any truth to them, we should close up every legitimate business and invest all our money exclusively in them! Only a Chelmite would give them any credence. The odds of making a quick buck by investing in these lucrative money offers are about as great as discovering oil in your backyard or as a snow storm in Elat!

As one plan goes bankrupt, the con artists are already advertising the next swindle and the same suckers buy it once again. The need and greed for money is so great that all reason goes out the window. It’s amazing how otherwise smart people can be so dumb.  As soon as they see a few people that do make some money, they immediately jump on the bandwagon. Little do they realize that they are only the cheese to bait the mice.

The Chinuch says that the lav of “lo sa’amod al dam rei’acha” includes saving a person from losing his money, yet few people seem to care about what’s happening in the community, and the con artists continue with their swindles without the slightest inhibition or shame. Every few months another Ponzi scam spreads thorough our community without anyone becoming any wiser.

Yet what is even more disturbing is that some Yiddish newspapers dare carry these ads with the full knowledge that many people will lose their money on account of them. While I fully realize that newspapers can’t be held responsible to check out and investigate the legitimacy of every ad that appears in their pages, simple morals and ethics demand that they refuse to accept ads that are blatantly misleading, fraudulent and are designed to tempt the “blind” to lose their money.

By running such ads in their paper, they are lending credibility and dignity to these schemes. In effect, they may also be considered agents, accessories or accomplices in helping promote these swindles. The law clearly forbids newspapers from accepting false or deceptive advertisements. While it is certainly every individual’s responsibility to check out the authenticity of every ad, by accepting these ads the publishers are aiding in the spread of these schemes to the unwary public, causing the ignorant and naive to lose their hard-earned money,

Just as responsible newspapers do not accept advertisements for non-kosher products, they should not accept ads for non-kosher money schemes. It is true that people who respond to get-rich schemes are letting greed get the better of their judgment, but shouldn’t newspapers have a responsibility to protect the gullible? The papers lecture us in their editorials and columns, shouldn’t they protect their readers from financial loss? I think it is time that rabbonim affiliated with these papers voice their opinion. Those who lost money on account of them ought express their strong protest (respectfully please!) at the editorial boards’ policy, and demand that this unacceptable practice stops. While I’m all for freedom of expression, one can’t shout fire in a crowded theater. More: Newspapers actually have a responsibility to write articles that explain and warn the public not to invest their money in false promises. After all, “haTorah chasa al ma’monam shel Yisroel” so should they! Someone who lost his life savings to a scheme advertised in a Jewish newspaper has called me. Isn’t that bloodshed? One should be especially wary of long term “chasene plans” that promise long-term riches and give their unscrupulous dealers plenty of time to disappear into the night.

A newspaper that can be bought off by the mighty American dollar is not worthy of the public’s trust!

It’s time we take off our green ($) tinted glasses and realize that there is no quick and easy way to riches. You’re probably better off investing in a lottery ticket. The chances of winning are much higher than investing them in any of these money swindles. Most people still remember as “JewelWay” spread through our community with devastating fury outfoxing thousands of their hard earned money until it was declared illegal by the F.T.C. and went bankrupt, leaving people with worthless jewelry, heartaches and ever increasing debts. All prior warnings fell on deaf ears. How many more bankruptcies are necessary before we learn our lesson?

I find it abhorrent that I must take out a paid ad in their papers warning people about the false ads they dare carry. This is outrageous! Let the one who helped spread the fire pay for putting it out! I call upon them to stop being machshil es ho’rabim

Respectfully,

Rabbi Eli Teitelbaum

Sample of outrageous fraudulent ads appearing in some Yiddish Newspapers such as The Yid and The Tzeitung

A plea To the Bais Din

Whereas it has now been fully proven that Purchase Plus which was sold by Chaim Reichberg was an illegal MLM scam and not just an ordinary bankruptcy, and all those who invested in it have now lost their money, I feel that the Bais Din must now reconsider its pesak that allowed him to continue selling his false plans that cheated thousands of their money. I also demand that he repay me for the expenses I had for his bringing me to Bais Din on false charges and for the advertising expenses I incurred by exposing his fraud in the newspapers. After all, it was he that made the claim that the plan was “guaranteed” and “Boduk U’menusah,” two claims that have now been proven fraudulent. I also ask the Bais Din to issue a p’sak that he personally be required to return the money he took from all his investors since his claims were an outright lie.

I also ask Bais Din to issue a ruling that newspapers be forbidden to accept patently false ads since they are machshil es ho’rabim!

It is time we put an end to all this fraud! The only way we can do so is by making him pay for his crimes to the Jewish Community. This is not the first time he has robbed hundreds of their hard earned money. We cannot allow him to get away with it. The Bais Din must clearly denounce this cheat by name and put a stop to him now before he comes up with a new plan. The public must be warned to keep their distance from him and his ilk!

Sincerely

Rabbi Eli Teitelbaum

P.S. Unfortunately the above plea went unanswered!