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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.

Nourafchan scheme
A chart of the alleged scheme shows the relationships between various co-conspirators. Image by SEC

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.

Lorenzo Nourafchan wrote a financial advice column for an Orthodox newspaper called “Let’s Grow with Lorenzo.” Courtesy of Forward staff

“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.

The post They texted about Torah and mitzvahs. Feds say they were insider trading appeared first on The Forward.

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Israel names a street after renowned Yiddish poet Abraham Sutzkever

The Israeli city of Netanya has renamed one of its streets Rechov Avrom Sutzkever (Abraham Sutzkever Street), after the renowned Yiddish poet and Vilna partisan.

The event on June 10 marked an important cultural moment, recognizing the legacy of a poet who devoted his life to Yiddish language and Jewish culture. During his lifetime, Sutzkever was celebrated not only for his poetry, but also for editing the storied Yiddish literary magazine Di goldene keyt (The Golden Chain) for 46 years. His work remains a fixture in the field of Yiddish literature today.

Sutzkever was born in 1913 in the shtetl of Smorgon, in what is now Belarus. During World War I, his family moved to Siberia, where his father, Hertz Sutzkever, died. In 1921, his mother Rayne moved the family to Vilnius, where Sutzkever attended cheder.

Sutzkever survived the Vilna Ghetto. He was a leader of the “Paper Brigade” that rescued Jewish cultural treasures from the Nazis and later became the only Jewish witness called by the Soviets to testify at the Nuremberg Trials.

His poetry chronicled his childhood in Siberia, his life in the Vilna ghetto and his escape to join the Jewish partisans. In 1947 he settled in Palestine, later Israel.

In Israel, he continued to create, publish and preserve Yiddish culture for decades. Yet, despite his immense influence around the world, he remained less known in Israel because he chose to write and fight for the Yiddish language rather than switch to Hebrew.

This is the first time a street in Israel has been named after him. Even Tel Aviv never did so, despite the fact that Sutzkever lived there for many years and the city was once a hotbed of Yiddish cultural activity, due to the influx of Yiddish-speaking immigrants who settled there after the Holocaust.

The street-naming ceremony was attended by the Mayor of Netanya, Avi Slama; representatives of the Lithuanian Embassy; public figures, artists, and members of the family, including Sutzkever’s granddaughter, Hadas Kalderon.

In the past decade, Kalderon has been instrumental in keeping Abraham Sutzkever’s memory alive, most notably through two documentary films: Ver Vet Blaybn? (Who Will Remain?) in 2021, and Black Honey: The Life and Poetry of Avraham Sutzkever in 2018.

Kalderon told me that she was very moved by Netanya’s decision to name the street after her grandfather, in a garden overlooking the Mediterranean Sea. “It was not only a tribute to Sutzkever himself, but also a powerful moment of recognition for Yiddish language and culture within the State of Israel,” she said.

 

 

The post Israel names a street after renowned Yiddish poet Abraham Sutzkever appeared first on The Forward.

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At the dawn of the World Cup, the story of the Jews who helped bring soccer to America

When the North American FIFA World Cup starts in Mexico City on June 11, the story will largely be told through the familiar lenses of Lionel Messi, the geography of the 48 participants and three hosts, and — because 75% of the games will be played there — the continuing rise of soccer in the United States. But there is another, less familiar story woven through the tournament: the long, strange and often overlooked history of Jews in North American soccer.

Tomer Chencinski of the Shamrock Rovers. Photo by Stephen McCarthy/Sportsfile via Getty Images

Mostly that’s been in the United States where players and owners have included a larger proportion of Jews than in Canada and Mexico. By my count, no Jewish players have represented Mexico, and only two Jewish men have represented Canada at senior international level and one of them, Tomer Chencinski, only did so once, in a friendly game where Canada lost 2-0 to Belarus in Doha. (Daniel Haber played 5 international games in his career).

For whatever reason, whether more closely linked to Europe, denied entry to other sports, or just arbiters of excellent taste, Jewish Americans have been at the forefront of soccer in the United States for over a century. The first American to play for a major European team was Eddy Hamel for Ajax Amsterdam in 1922. Hamel was a New York-born winger who became a star for Ajax in Amsterdam during the 1920s. An injury forced his retirement in the 1930s and, after the Nazi occupation of the Netherlands, he was deported and murdered at Auschwitz in 1943. His story remains one of the most tragic intersections of Jewish history and world football.

Jews also comprised the largest soccer crowd in America when 46,000 New Yorkers watched Hakoach Vienna play New York All Stars in 1926. That record stood for over 50 years but it also encouraged a number of members of the Hakoach team to emigrate to the US and start a New York team that was a crucial part of the American Soccer League of the era.

Pelé of New York Cosmos in 1977. Photo by 4Imagens/Getty Images

Later, in the 1970s, the National American Soccer League — the glitzy NASL — became a success thanks to the glamorous New York Cosmos. As head of Warner Communications, their CEO Steve Ross, born Rechnitz, was the person who brought Pele over and made the league the star-studded affair it became. After Herman Sarkowsky co-founded the Seattle Sounders, the continent was almost ready for football.

When the NASL faded and folded, soccer dwindled as a major sport in the United States. Alan Rothenberg saw an opportunity to revive the sport by hosting the 1994 World Cup and founding the MLS as a reset. As president of the U.S. Soccer Federation and the chief executive of the World Cup USA 1994 organizing committee, he made both of those happen and laid the foundations for the current shape of U.S. soccer.

The success of the MLS was not a foregone conclusion, though; indeed, it barely survived to the millennium. It was founded in 1993 but only started playing in 1996 — losing an estimated $350 million between its founding and 2004. The league initially turned to Don Garber, a former NFL executive, in August 1999 but even he couldn’t turn it around. By late 2001, it looked like the league would fold like its predecessors but it was able to secure new financing from owners Lamar Hunt, Philip Anschutz, and the Kraft family to take on more teams. Over the past 20 years, it has become robust, enjoying the general boom of all things soccer, riding the coattails of the English Premier League.

Without Robert Kraft and Anschutz, Major League Soccer might not exist today. During the league’s precarious early years, the two billionaire owners absorbed enormous losses to keep the fledgling competition alive. Kraft, the owner of the NFL’s New England Patriots, was also a central figure in bringing the 2026 World Cup to North America. As chairman of the United Bid Committee, he played a crucial role in securing the tournament for the United States, Canada and Mexico.

If Kraft represents one side of the Jewish soccer story, Chuck Blazer represents another.

The larger-than-life American soccer executive helped expose corruption inside FIFA, serving as a key witness in the investigations that ultimately toppled some of the most powerful figures in world football. Yet Blazer was a product of the very system he later helped unravel. His spectacular rise and fall remains one of the strangest chapters in soccer history, a tale of luxury apartments, exotic pets and global corruption.

Unlike baseball, basketball or boxing, soccer never became known as a major arena of Jewish achievement in the United States. Perhaps that has been due to the historic lack of status for soccer in the country. Despite the excellence of Yael Averbuch West for the USWNT and a number of Jewish players for the USMNT including Jonathan Bornstein, Benny Feilhaber, Dan Calichman, DeAndre Yedlin, Kyle Beckerman and the maverick Yari Alnutt there have been no soccer equivalents of Sandy Koufax or Hank Greenberg.

Hwang Sun Hong of South Korea and Jeff Agoos of the USA . Photo by Simon Bruty/Anychance/Getty Images)

The stalwart defender Jeff “Goose” Agoos came closest with 134 international appearances and six more for the U.S. soccer Olympic team. But playing with a mediocre USMNT, he enjoyed few legendary moments. In fact, arguably no professional moments outshone the bizarre story of his 1989 NCAA championship ring in his junior year, the season that he played in the Maccabiah. On Dec. 3 of that year, his Virginia Cavalier team (playing for future USMNT coach Bruce Arena) met the top ranked, undefeated Santa Clara team  in a freezing cold stadium in Piscataway, N.J. The teams were still tied 1-1 after FOUR overtimes and, with no penalties on the books, they shared the spoils. It was the third time that two teams shared the championship and has never happened again.

This year’s USMNT squad does include the only Jewish player at this summer’s tournament — reserve goalkeeper Matt Turner. If, as coach Mauricio Pochettino plans, Turner exclusively warms the bench, he will take his place alongside many of America’s notable Jewish soccer figures who have furthered the game, even if not on the field.

The post At the dawn of the World Cup, the story of the Jews who helped bring soccer to America appeared first on The Forward.

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‘Remember the Liberty’ has become code for ‘Israel Is Evil’ 

The first tragedy of the U.S.S. Liberty attack is that it happened at all. The second is that Israel’s critics have weaponized it to spread hate.

When Rep. Thomas Massie of Kentucky stood on the House floor on June 8, the 59th anniversary of the attack, and called for a Congressional probe into the incident, he wasn’t seriously trying to bring the truth of some long-buried historical secret to light. Massie, who in 14 years never once brought up the U.S.S. Liberty on the House floor, was using the latest cudgel in the Israel-haters’ arsenal to level one last official blow at a country he loathes.

“I’ve got a call to action for everybody here,” said Massie, speaking of attack survivors who were in the audience, “Honor these individuals. Quit ignoring that they exist. Let’s have an investigation.  It’s long overdue.”

Let’s put aside the fact that there have been numerous official investigations into what exactly happened on June 8, 1967, the second day of the Six Day War, when Israeli aircraft and torpedo boats attacked the Liberty off the Sinai Peninsula, killing 34 American service members.

These investigations concluded that the tragedy was a friendly-fire incident. The Israelis initially mistook the Liberty, an intelligence-gathering vessel, for an Egyptian warship. After the smoke cleared, they accepted responsibility, apologized and paid $12 million in compensation to the victims.

Of all the explanations, it’s perhaps the least satisfying but the most logical. During the Vietnam War, happening at the same time, an estimated 11% to 15% of casualties were from friendly fire.

Massie’s call for a new investigation would be more believable if he then didn’t go on to recite the alternative one-sided narrative of the incident long pushed by some survivors and now taken up with gusto by Israel haters Candace Owens, Tucker Carlson and others.

To them the attack was deliberate: The Israelis ignored the large American flag the Liberty was flying and began shooting.

“It was intentional murder by the country of Israel,” said Massie on the House floor, “either as a false flag operation or because they simply didn’t want anybody observing what they were doing that day.”

What Massie and his fellow conspiracy theorists are alleging is a crime, but none of them has sufficiently proven a motive. Why would Israel attack the ship of its most important and powerful ally?

The false flag theory — the idea that Israel wanted to sink the Liberty, blame Egypt or the Soviet Union for it and draw America into the war — makes no sense.

The war was all but won by June 8. Moreover, as the historian and former Israeli ambassador to the United States Michael Oren relates in Six Days of War, the Israelis actually stopped firing initially when they suspected the ship was American.

The Israelis sent helicopters to investigate, but heavy smoke obscured the ship. Meanwhile, as Israeli torpedo boats closed in, a U.S. Navy crewman, perhaps not hearing his commander’s orders, opened fire.

The Israelis, now convinced it was an enemy ship, unleashed torpedoes, killing 25 Americans.

Massie left all this out of his narrative. He quoted then-Secretary of State Dean Rusk, who said at the time, “the attack was, quite literally incomprehensible,” implying that a murky conspiracy underlay it all.

But he didn’t include the rest of what Rusk said: That what happened was “an act of military recklessness reflecting wanton disregard for human life.”

In other words, Rusk’s full quote doesn’t suggest intention, but gross carelessness, which is a far cry from premeditated murder. It was chaos, miscommunication, uncertainty, incompetence, fear — the fog of war.

But to Massie and others, there’s no need to establish a coherent motive for why Israel attacked its harmless friends, because in their minds that’s just who Israelis are.

If Massie wants another investigation, fine. But I find it hard to believe that any investigation that doesn’t find Israel guilty of murder in the first will ever satisfy him or the people for whom “Remember the Liberty” is shorthand for “Israel is evil.”

 

The post ‘Remember the Liberty’ has become code for ‘Israel Is Evil’  appeared first on The Forward.

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