SEC Charges Three Toms River Residents Over Alleged $47 Million Fraud; Case Undecided

The agency's civil complaint accuses Leor Moshe, Jacob Goldman and Isaac Odes of roles in an alleged affinity investment fraud. The matter is only at the charging stage: no court has ruled, and the allegations remain unproven.

3 reports on this incident · first at Aug 13, 2026, 8:08 p.m. ET

By AI ReporterWritten Aug 15, 2026, 5:05 p.m. ET

The Securities and Exchange Commission has three Toms River, New Jersey residents — Leor Moshe, Jacob Goldman and Isaac Odes — in district court over their roles in an alleged affinity investment fraud scheme, according to reporting by finanznachrichten.de. The case is , it is at the charging stage, and it has not been decided: the SEC has filed allegations, and no court has ruled on them. According to finanznachrichten.de, the SEC alleges the scheme misappropriated approximately $47 million from more than 87 investors, primarily members of Orthodox Jewish communities in New Jersey and New York. The agency alleges that between approximately November 2019 and June 2023, Moshe orchestrated a scheme convincing investors to invest in his company, Capital Funding ASAP LLC, telling them their money would fund short-term loans for small businesses with significant fixed returns. Instead, the SEC alleges, Moshe misappropriated more than $11 million for personal use and used more than $850,000 for Ponzi-like payments to earlier investors, finanznachrichten.de reported. The complaint further alleges that Moshe paid Goldman and Odes, who were not registered as broker-dealers, to recruit investors, and that they solicited more than $23 million from at least 25 investors. Moshe is with violations of the antifraud provisions; Goldman and Odes are with violations of the broker registration provisions of the Securities Exchange Act of 1934, according to finanznachrichten.de. The complaint seeks permanent injunctive relief, disgorgement of ill-gotten gains with prejudgment interest, penalties, and a conduct-based injunction against Moshe. Each of those remedies is sought, not ordered; whether any of it is granted is for the district court to determine. **Status of the matter.** Everything above is an allegation contained in an SEC complaint. The document reported by finanznachrichten.de is a announcing charges, and the proceeding stands at the charging stage. No finding of liability has been made against Moshe, Goldman or Odes, and the allegations have not been tested in court. The source does not report any response, answer or defense from the three men, and it records no ruling, settlement or judgment. A reader encountering this account later should treat the case as open unless a more recent record shows how it was resolved.

Earlier reports

Aug 15, 2026, 5:03 p.m. ET
SEC Seeks Disgorgement and Civil Penalties From Toms River Trio in Alleged $47 Million Fraud
The Securities and Exchange Commission is seeking disgorgement of ill-gotten gains together with prejudgment interest, as well as civil penalties, in its civil case against three Toms River, New Jersey residents, according to an SEC litigation release reported by finanznachrichten.de. Both sums are recorded as sought rather than ordered or agreed. The release also states that the complaint, filed in federal district court, seeks permanent injunctive relief and a conduct-based injunction against Leor Moshe.
No dollar figure is attached in the release to either the disgorgement or the penalties, and no redress fund for investors is described. The matter is at the charging stage, and the record supplied contains no court ruling and no settlement.
By way of background, the SEC alleges that Moshe, Jacob Goldman and Isaac Odes took part in an alleged affinity investment fraud that misappropriated approximately $47 million from more than 87 investors, primarily members of Orthodox Jewish communities in New Jersey and New York, according to the release reported by finanznachrichten.de. The SEC alleges Moshe misappropriated more than $11 million for personal use and used more than $850,000 for Ponzi-like payments to earlier investors, and that Goldman and Odes, who were not registered as broker-dealers, were paid to recruit investors and solicited more than $23 million from at least 25 investors.
Moshe is charged with violations of the antifraud provisions; Goldman and Odes are charged with violations of the broker registration provisions of the Securities Exchange Act of 1934. The allegations have not been proven, and the release does not record responses from the three men.
Aug 13, 2026, 8:08 p.m. ETFirst report
SEC Charges Three New Jersey Men Over Alleged $47 Million Investment Fraud
The Securities and Exchange Commission has charged three residents of Toms River, New Jersey — Leor Moshe, Jacob Goldman and Isaac Odes — in connection with what it describes as an affinity investment fraud that misappropriated approximately $47 million from more than 87 investors, primarily members of Orthodox Jewish communities in New Jersey and New York, according to an SEC litigation release reported by finanznachrichten.de.
The matter is a civil case in federal district court and is at the charging stage. It has not been decided: the allegations are the SEC's own, they have not been tested in court, and no judge has made any finding of liability against Moshe, Goldman or Odes. Nothing in the material reported indicates the case has been settled, dismissed or otherwise concluded.
According to the SEC's complaint as reported, between approximately November 2019 and June 2023 Moshe convinced investors to put money into his company, Capital Funding ASAP LLC, telling them the funds would finance short-term loans to small businesses with significant fixed returns. The agency alleges he instead misappropriated more than $11 million for personal use and used more than $850,000 for Ponzi-like payments to earlier investors.
The complaint further alleges that Moshe paid Goldman and Odes, who were not registered as broker-dealers, to recruit investors, and that the two solicited more than $23 million from at least 25 investors. Moshe is charged with violations of the antifraud provisions; Goldman and Odes are charged with violations of the broker registration provisions of the Securities Exchange Act of 1934.
The SEC is seeking permanent injunctive relief, disgorgement of ill-gotten gains with prejudgment interest, civil penalties, and a conduct-based injunction against Moshe. Those are requests made in the complaint, not awards; whether any of them is granted remains for the court to determine.
No responses from the three men were included in the material reported. Readers encountering this account later should not assume an outcome: as of the litigation release, the case was open and undecided.

Was this report accurate and useful?

Sources

Newsfile SEC Press Digest: SEC Charges Toms River Trio in Connection with Alleged $47 Million Fraud Targeting Orthodox Jewish Communitiesfinanznachrichten.de

Revision history

Version 115 Aug 2026, 21:05current
First published.
Version 114 Aug 2026, 00:08current
First published.
Version 115 Aug 2026, 21:03current
First published.

How we work

This site models an investigative reporter rather than a wire desk. The aim is the most complete, accurate and timely account we can assemble — all three, not a trade between them. Reports go out within minutes of the coverage they are built from, carrying context a newsroom would otherwise need a day and a records request to gather: what has happened at this place before, what the operator’s record is, which aircraft it actually was.

Reports are built from primary sources — accident and court records, official registries, weather observations, agency statements — and from reputable news organisations, each named where their reporting is used. Facts are extracted before anything is written, and every one must be supported by a quotation found in the source itself; the model that writes the report is given only those verified facts and never sees the article, so it cannot introduce a detail no source stated.

Where sources disagree we publish the disagreement, attributed, rather than picking a figure. Where a fact comes from a record rather than a reporter, we say so, and the language matches: an instrument reading is never described as something anyone confirmed. Some things are deliberately withheld — a suspect is not named until an agency names them on the record, victims until families or officials release them — and corrections appear as visible revisions, never as silent edits.

None of that makes a report true. A quotation check proves a source said something, not that it was right, and an automated system can be confidently wrong in ways the checks do not catch. If something here is wrong, the feedback above is how it gets found. The full methodology, including what we refuse to publish.