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Abe Pimstein Fleeces Retirees For $30 Million

He Worked Out Of The University Of Miami

Other University Officials Were Involved

Fraud In Academia Andres Pimstein, 48, and four other Jewish University administrators, admit using the University of Miami facilities to run a Ponzi scheme. People across the country lost an estimated $30 million in the scheme, which collapsed this year. Pimstein had a joint bank account with the university's director of contract administration, Alan Weber, according to bank records. Black said investor meetings were held in a UM conference room used by Weber, and as many as three dozen current and former UM employees -- including two former senior university officials besides Weber -- bought into Pimstein's operation.    Pimstein has refused comment. When asked whether he was a con man, Pimstein said, "I don't have an answer for that." But Miami-Dade County police said that Pimstein admitted to the scheme in a taped interview and that the tape is now in the hands of the FBI.   article

Will Pimstein return the money and do time?
	Yes - He will go to prison
	No - He will flee to Israel with the money
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