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They texted about Torah and mitzvahs. Feds say they were insider trading
The suspects texted one another as though they had everyone fooled.
“How’s the rabbi?” one asked in a message. “Is he still scheduled for surgery?”
“We are still waiting for the doctor to check if it’s still needed,” came the response.
But there was no surgery, authorities say, and there was no rabbi. Instead, prosecutors allege, the men were referring to Amazon’s impending acquisition of the vacuum company iRobot, hoping to trade on what was then still a closely guarded secret. According to a pair of federal indictments unsealed last week, the deal was one of dozens leaked to a criminal network that used Jewish code words to plan their investments.
At the center of the alleged insider trading scheme was Nicolo Nourafchan, 43, a corporate lawyer who prosecutors say used his access to company files to collect and share deal information with a sprawling network of middlemen and investors. Capitalizing on the lawyer’s knowledge of in-progress mergers and acquisitions, the crew allegedly racked up tens of millions of dollars in illicit proceeds over the course of a decade.
The indictments are rife with Jewish code words that the defendants used in the alleged plot. “Torahs” and “mitzvahs” were stock tips, and a merger was a “flight to Israel.” A “chavrusa” — Aramaic for study partner — meant another lawyer or investor, and a company was a “shul.”
And to share the ticker symbol of a company soon to be acquired, one alleged co-conspirator spelled out its initials using Jewish names.
Nourafchan and the other lawyers received kickbacks when the deals hit, according to prosecutors.
Nineteen of the case’s 30 defendants have been arrested in Los Angeles, New York and Florida and have appeared in federal court. (Two located in Russia and Israel are considered fugitives, according to the Department of Justice.)
Of those, 16 defendants are each charged with two counts of conspiracy to commit securities fraud, two counts of securities fraud and one count of money laundering conspiracy. The conspiracy charges carry a combined sentence of up to 30 years in prison, while the fraud charges carry a sentence of up to 45 years and money laundering up to 20 years. Fines could exceed $5 million per defendant.
Those charged in the first indictment include Nourafchan, who prosecutors say drew extensively on a network of family and friends to build the scheme, and David Bratslavsky, the former director of the U.S. Israel Business Council, a group that brings together business leaders from those two countries.

An additional five alleged co-conspirators, including Nicolo’s brother Lorenzo Nourafchan, face two counts of conspiracy to commit securities fraud, two counts of securities fraud and one count of money laundering conspiracy.
Reuters has reported that Avi Sutton, a former Israeli Supreme Court law clerk, is among the unindicted co-conspirators involved in the alleged scheme. (Sutton could not be reached for comment.)
The prosecutions have caused an earthquake in the world of M&A law, with the Wall Street Journal calling it “one of the most brazen insider-trading schemes in years.” Nicolo Nourafchan had worked at top M&A law firms and leaked information on corporate giants that included Amazon, Johnson & Johnson and Burger King.
“Everyone charged today is accused of scoring significant profits from expected market moves and making out like bandits,” Ted Docks, special agent in charge of the FBI’s Boston division, said May 6 after the charges were announced. “That’s not merely gaming the system — it’s a federal crime.”
If proven guilty, the Nourafchan brothers, who have not yet entered a plea, could face decades in prison. Lawyers for each did not respond to a request for comment.
No attorneys are on record for other defendants and no pleas have been entered yet in the case. The Forward could not reach them for comment.
Ask the ‘rabbi’
To most who knew them, Nicolo and Lorenzo Nourafchan were LA brothers who had made good. They had graduated from top schools — Nicolo from Yale Law School, Lorenzo from Yeshiva University — and gone on to careers in corporate law and finance.
Nicolo bounced around between major law firms including Sidley Austin, Latham & Watkins and Goodwin Procter. At each stop, authorities said, he used internal document management systems to access information about deals that were in progress. He recruited Robert Yadgarov and Gabriel Gershowitz, respectively his former roommate and classmate, to gather tips from their firms, prosecutors allege.
The three would allegedly then pass on the tips to middle-men, who would share the knowledge with investors. (Yadgarov is among the 16 charged in the first indictment. Gershowitz has pleaded guilty and is cooperating with authorities, who have recommended a sentence of two years in prison.)
Eager for the next tip, the investors often badgered the middlemen in code, authorities say.
“Gavy, we are all just waiting for you to tell us when the next flight to Israel is,” one investor named Simon Fensterszaub asked alleged middleman Gavryel Silverstein. “It’s coming soon,” Silverstein replied. (Silverstein is also charged in the first indictment.)
In June 2022, court documents say, Fensterszaub, who had invested in a company expected to be acquired, asked Silverstein for an update on the deal: “Any chance you can find out how the rabbi is feeling?” Fensterszaub wrote.
“Unfortunately nothing,” Silverstein replied.
Then Fensterszaub dropped the code entirely: “Should I tell ppl to pull out?” he said.
Ultimately, he didn’t — and the brothers netted about $179,000 from their iRobot trades.
In another instance, one of the investors, unable to remember the name of the company being purchased, asked a co-conspirator to remind him. The company’s name was Momentive — ticker symbol MNTV.
According to authorities, the person replied:
“Menachem
Nachman
Tuvya
Vladmir”
Silverstein and Simon Fensterszaub, who do not have lawyers currently assigned in court documents, could not be reached for comment.
Family affairs
The Nourafchans are not the only brothers named in the indictments, which in total run more than 120 pages. Text messages from Brian and Mark Fensterszaub, of Hollywood, Florida — Simon’s brothers — show the two using code to discuss Nourafchan with Silverstein, who is their brother-in-law.
The first indictment shows the brothers as regularly agitated about the status of deals. “We need that damn rebbe already,” Mark Fensterszaub allegedly told Silverstein in 2022 as the two discussed money issues.
Soon after, Silverstein came through, court documents say. With Amazon on the verge of acquiring iRobot, he used Hebrew letters to allude to iRobot’s stock symbol in a text, allegedly tipping the brothers to the opportunity.
The traders in Nourafchan’s network made a total of $1.7 million trading on the Amazon/iRobot deal, according to court documents.
After Nourafchan lost his job at Goodwin Procter in September 2023, the Fensterszaubs appeared worried that the tips might stop coming.

“Let’s say he’s not davening or doing any Torahs, mitzvahs,” Brian Fensterszaub told Silverstein that October. “Let’s say he said ‘I don’t have anything, f”ck you, give me my money.’ We’d still be like alright, torah and mitzvahs. We gotta do what we gotta do.” (The three Fensterszaub brothers are charged in the first indictment.)
Nicolo Nourafchan reassured Silverstein that December that more info would be on the way soon. “I’m working on getting a job,” he said, according to court documents. “So baruch hashem we’ll have more.”
Silverstein’s brother-in-law Yisroel Horowitz is also charged in the scheme, as is Brian Fensterszaub’s brother-in-law Joseph Suskind; Eliyahu and Daniel Kavian, another sibling duo, were allegedly connected to the plot through Simon Fensterszaub.
It was the relationship between the Nourafchan brothers, however, that may have led the decade-long scheme to unravel.
Lorenzo Nourafchan, 38, ran a business he started called Northstar Financial Consulting Group, and on LinkedIn had accrued several thousand followers. He also wrote a money column for the Los Angeles Jewish Home, an Orthodox print weekly, in which he wrote about the challenges and opportunities of being an Orthodox business owner. (The LA Jewish Home did not respond to an inquiry.)
Lorenzo was looser with the information, court documents show, recruiting his hair stylist to the scheme, who then involved nearly a dozen of his friends and relatives. Lorenzo instructed the stylist, Miakel Bishay, not to do the trading himself so the trail would not lead back to him, authorities say, but Bishay did anyway. Bishay’s friend, Nowel Milik, netted more than $700,000 in the iRobot deal, according to one of the indictments. (Bishay and Milik are both charged in the second indictment.)
Soon, the jig was up. In March 2024, a federal agent posing as a representative from FINRA, a regulatory organization that monitors trading activity, called Brian Fensterszaub asking for more information about the iRobot trade. The call alarmed Fensterszaub, who immediately called Silverstein to let him know.
“Listen, God forbid that I don’t think anything should come of it,” Fensterszaub told Silverstein, “but God forbid if something did, you don’t need it pointing back to you and you having to deal with it.”
A legal filing from Tuesday by lawyers for the Nourafchan brothers asked the court to grant Lorenzo permission to use the proceeds from the sale of his business to pay for Nicolo’s legal representation. Judge Leo T. Sorokin granted the request.
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Israeli citizen Michael Mizrahi killed in Montreal shooting
(JTA) — Michael Mizrahi, an Israeli citizen and longtime member of Montreal’s Jewish community, has been identified as the civilian killed in Monday’s shooting involving a gunman and Canadian police officers in Montreal’s Côte-des-Neiges neighborhood.
The suspected gunman was killed during the incident, the investigation of which is ongoing. Police have not publicly released the suspect’s identity or provided details about a possible motive. They also have not confirmed who shot Mizrahi.
The Israeli Consulate in Montreal confirmed Mizrahi’s death, saying in a statement that he was an Israeli citizen and extended condolences to his family “on behalf of the people and the State of Israel.” The consulate said his family “knows all too well the horrors of terror and violence, making this tragic loss even more painful.”
Montreal police Constable Mohamed Lamine Benredouane, 34, was also fatally shot responding to the incident, according to police.
The Service de police de la Ville de Montréal said Benredouane died in the line of duty while protecting the public during an intervention in Côte-des-Neiges, a heavily Jewish neighborhood. He had served with the force since 2021.
A second officer, who is female, was also shot and remains in critical condition, police said.
Quebec’s Bureau des enquêtes indépendantes, the province’s police watchdog, has opened an independent investigation into the use of a firearm by a police officer in a fatal confrontation.The Quebec police watchdog group states that it is “mandated to fully investigate the facts surrounding police interventions. The BEI investigates all cases where a person, other than a police officer on duty, dies, suffers serious injury, or is injured by a firearm used by a police officer during a police intervention or while in police custody.“
A number of Canadian Jewish groups published statements assuring the Jewish community that they were not in danger. The UJA-Federation of Toronto put out two statements explaining that the Jewish community did not appear to be a target.
The Centre for Israel and Jewish Affairs, the advocacy arm of Canadian Jewish Federations, also put out a statement mourning the loss of a community member.
“We mourn the tragic loss of Michael (Michel) Moshe Mizrahi z”l, a beloved member of Montreal’s Jewish community, an innocent victim of today’s events,” the group posted on X on Monday night. “Our thoughts and our deepest condolences are with his family, friends, and loved ones during this time of unimaginable pain.”
Israel’s Foreign Minister Gideon Sa’ar wrote on X that he had called the Chabad Rabbi of Montreal Mendel Raskin to extend his “deepest condolences to the families of the victims, to the Jewish community of Montreal, and to all Canadians mourning this terrible loss.”
This article originally appeared on JTA.org.
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Supreme Court reinstates murder conviction in Etan Patz disappearance case
(JTA) — The Supreme Court on Monday reinstated a murder conviction for the man convicted of killing Etan Patz, the 6-year-old Jewish boy whose 1979 disappearance riveted the nation.
In a 6-3 vote, the justices reimposed the conviction of Pedro Hernandez, who was found guilty of kidnapping and murdering Patz in 2017 and was serving a 25-year sentence until a New York federal appeals court ruled last year that he was entitled to a retrial.
The justices granted an appeal from New York prosecutors who urged them to overturn the decision last year, writing in an unsigned opinion that the lower court “exceeded its authority in holding that Hernandez is entitled to relief.”
“Today the Supreme Court agreed with the findings of multiple lower courts and upheld the trial conviction of Pedro Hernandez for the horrific murder of Etan Patz, which changed a generation of New Yorkers,” Manhattan District Attorney Alvin Bragg said in a statement Monday. “This office has remained steadfast in its pursuit of justice for Etan and the Patz family and will continue to stand by this important conviction.”
Harvey Fishbein, a lawyer for Hernandez, told the The New York Times Monday that the Supreme Court’s order meant Hernandez would not get a new trial, adding that his team was “terribly disappointed.”
“We firmly believe that an innocent man is in jail for a crime that he did not commit,” Fishbein said.
Patz vanished in May 1979 while walking to his school bus stop in New York City for the first time. The 6-year-old became one of the first missing children whose photograph appeared on milk cartons nationwide, but despite years of searches and public appeals, he was never found.
Patz’s parents, Julie and Stan, spent decades seeking an arrest for his disappearance, helping to establish a national missing-children hotline. The anniversary of Etan’s disappearance, May 25, also became National Missing Children’s Day.
This article originally appeared on JTA.org.
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Some of Mamdani’s Jewish allies criticize his use of ‘monsters’ to describe AIPAC
(New York Jewish Week) — New York City Mayor Zohran Mamdani on Monday defended his use of the word “monsters” to describe AIPAC at a rally Friday for progressive candidates, as some of his Jewish supporters expressed concern that the term may connote an antisemitic trope.
The war of words came as the American Israel Public Affairs Committee is increasingly a target of the progressive movement — including in acts of attempted violence — and as progressive Jews have accused some Israeli right-wing figures of dehumanizing liberal pro-Israel lobbying groups.
“Calling AIPAC and its backers ‘monsters’ casts them as less than human, rather than as human beings who are one’s political opponents,” Rabbi Jill Jacobs, head of the progressive rabbinic human rights group T’ruah, wrote in a Substack post Monday.
“I was taken aback,” Rabbi Misha Shulman, a Mamdani supporter who leads the progressive Brooklyn synagogue The New Shul, told the Jewish Telegraphic Agency about the mayor’s comments. “I didn’t like those remarks. It was a little bit of a flag for me.”
At a press conference, Mamdani said he had been quoting Italian anti-fascist philosopher Antonio Gramsci, whose quote ending “Now is the time of monsters” the mayor had cited at the top of his speech. The rally was intended to boost the mayor’s preferred progressive candidates, including Jewish congressional candidate Brad Lander, ahead of New York’s closely watched Tuesday primaries.
“I used the term to describe all those who are preventing the birth of a new world,” Mamdani told a reporter who asked about the word. He continued, “My use of the term is a broad use that speaks to the untenable nature of a status quo that is quite literally starving people in this city, all in the name of sustaining something that we simply cannot defend any longer.” He did not explain how he saw AIPAC as connected to poverty in New York.
Mamdani insisted he was referring to “not solely AIPAC,” but he singled out the organization again in his Monday remarks to reporters, saying the lobbying group was backing “a status quo for immorality.”
During the rally last week, Mamdani had stated that Gramsci’s “monsters take many forms today,” including “AIPAC, for whom the only thing more frightening than democracy being allowed to run its course is an end to genocide and [Israeli Prime Minister Benjamin] Netanyahu’s wars.” He added that AIPAC’s “goal” is “to turn us against one another.”
For some of the progressive Jews who have supported the mayor, his comments sounded alarms about the use of dehumanizing or sinister rhetoric to describe Jewish groups.
But Shulman said it was actually Mamdani’s remarks in the same speech painting AIPAC as a “dark money” group that was most alarming to him. AIPAC, a lobbying organization that also operates a political spending arm, does not conceal its donors, unlike the traditional profile of a so-called “dark money” campaign finance operation.
“For me, the question of dark money was the tougher knot,” Shulman said, calling Mamdani’s remarks a “tactical mistake.” In the context of rising antisemitism, he added, “For a left-wing leader to use that phrase, and invite traditional antisemitism into this conversation in that way, was not smart.”
Shulman is a member of Israelis For Peace, a New York-based ad-hoc group of progressive Israelis who broadly back Mamdani. While not speaking on behalf of the group, he told JTA their internal group chat lit up with debates over the appropriateness of Mamdani’s speech.
Jacobs of T’ruah said Mamdani’s remarks were part of what she described as a “disturbing trend” of recent left-wing attacks on the lobbying group, including Maine Democratic U.S. Senate nominee Graham Platner accusing his GOP opponent of being “bought and paid for by Benjamin Netanyahu” because of AIPAC’s donations to her campaign.
Rep. Ro Khanna, a California Democrat who has aspirations of higher office, also recently became the first sitting member of Congress to sign a pledge from Track AIPAC, a purported AIPAC watchdog that also targets donations from more liberal pro-Israel groups, including J Street.
Over the weekend, a cafe posted on Instagram that it had rejected a payment from liberal Jewish New York Rep. Dan Goldman, whom Lander is challenging in the primary, because the money was “probably coming from AIPAC.” (Goldman has been endorsed by both AIPAC and J Street.)
While noting that AIPAC “absolutely deserves to be criticized, sidelined, and rejected for its decades of negative influence on American foreign policy,” Jacobs wrote that such critiques should be done “without dehumanizing language, and without hinting at a grand Jewish conspiracy.”
Such pushback from Jews who have worked with Mamdani is rare. JTA reached out to representatives for several of the mayor’s most visible Jewish allies on Monday, including Lander and Vermont Sen. Bernie Sanders, who spoke at the same rally. Sanders also criticized AIPAC. Neither returned requests for comment by press time. On social media after the rally, Lander celebrated the event, calling it “a tremendous honor” to rally alongside Mamdani.
IfNotNow and Jews For Racial and Economic Justice, two Jewish activist groups that endorsed Mamdani, similarly did not respond to requests for comment by press time. A spokesperson for Rep. Jerry Nadler, the retiring liberal Jewish Democrat who had endorsed Mamdani’s mayoral bid, also did not respond by press time.
J Street, the liberal pro-Israel lobby that positions itself as a foil to AIPAC, declined to comment on Mamdani’s remarks. Last month, hundreds of Jewish leaders criticized Yehuda Leiter, Israel’s ambassador to the United States, after Leiter called J Street a “cancer within the Jewish community.” Nadler was among the signatories of an open letter that said Leiter “dehumanizes fellow Jews.”
Centrist Jewish groups and figures, already no fans of Mamdani, also bashed his AIPAC comments. “Referring to fellow New Yorkers as ‘monsters’ is outrageous and dangerous, and the impact of your words extends far beyond politics,” American Jewish Committee CEO Ted Deutch wrote on X, addressing Mamdani.
Rep. Josh Gottheimer, a Jewish Democrat representing New Jersey, wrote, “Swap ‘AIPAC’ for ‘Jews’ and it’s the oldest antisemitic conspiracy theory in the books.”
Both posts were reposted by AIPAC, which otherwise did not comment.
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