SEC Charges Toms River Trio in Alleged $47 Million Affinity Fraud
SEC charges a Toms River trio over an alleged $47 million affinity fraud that caused over $25 million in investor losses across seven states from 2019 to 2023.
Summary
The SEC’s Aug. 13, 2026 press release, No. 2026-74, said a District of New Jersey federal complaint charges Toms River residents Leor Moshe, Jacob Goldman and Isaac Odes over an alleged affinity fraud. From approximately November 2019 to June 2023, Moshe allegedly raised about $47 million through Capital Funding ASAP LLC from more than 87 investors, primarily Orthodox Jewish community members in New Jersey and New York. He allegedly promised significant fixed returns, sometimes exceeding 30%, from short-term small-business loans, but diverted more than $11 million for personal use and over $850,000 to Ponzi-like payments.
Goldman and Odes allegedly received payment to recruit investors despite neither being registered as a broker-dealer or associated with one. They solicited more than $23 million from at least 25 investors, negotiated terms and facilitated fund collection. Investors in Arizona, Connecticut, Florida, Illinois, New Jersey, New York and Ohio lost more than $25 million.
Moshe faces federal securities antifraud claims, while Goldman and Odes face broker registration claims under the Securities Exchange Act of 1934. The SEC seeks permanent injunctions, disgorgement with prejudgment interest and civil penalties, plus a conduct-based injunction against Moshe. The U.S. Attorney’s Office for the District of New Jersey announced parallel criminal charges against Moshe for similar conduct, with FBI assistance. The SEC directed investors to its Investment Scams Targeting Groups guidance and Investor.gov for background checks.
Positives
- The SEC seeks disgorgement with prejudgment interest, civil penalties and permanent injunctions against all three defendants.
- The U.S. Attorney’s Office for the District of New Jersey filed parallel criminal charges against Leor Moshe on Aug. 13, 2026.
- The SEC and FBI coordinated on a case spanning more than 87 investors and seven states.
- Investor.gov allows investors to check the registration and disciplinary backgrounds of people offering securities.
Risks & concerns
- More than 87 investors allegedly supplied approximately $47 million to Capital Funding ASAP LLC between November 2019 and June 2023.
- Investors across Arizona, Connecticut, Florida, Illinois, New Jersey, New York and Ohio lost more than $25 million.
- Leor Moshe allegedly diverted more than $11 million for personal use and over $850,000 into Ponzi-like payments.
- Jacob Goldman and Isaac Odes allegedly solicited more than $23 million from at least 25 investors without required broker-dealer registration.
- Promised fixed returns sometimes exceeded 30%, while investor funds allegedly were not used for the represented short-term small-business loans.
