Elias Ghanem II, a former resident of Las Vegas, Nevada, was sentenced to 84 months in prison by United States District Judge Gary R. Brown in federal court in Central Islip. Ghanem was convicted for running a fraudulent investment scheme that solicited funds for supposed cannabis and restaurant businesses, resulting in losses of about $1.4 million to investors. He pleaded guilty to wire fraud in February 2025 and was also ordered to pay approximately $1.4 million in restitution.
The sentencing was announced by Joseph Nocella, Jr., United States Attorney for the Eastern District of New York, and Christopher G. Raia, Assistant Director in Charge at the Federal Bureau of Investigation’s New York Field Office.
“Today, the defendant received just punishment for defrauding more than a dozen investors, including a retired law enforcement officer whose arm was amputated due to gunshot wounds,” stated United States Attorney Nocella. “Our Office and our law enforcement partners will continue to pursue justice for victims of financial crime who fall prey to individuals like Ghanem who advance their greedy desires at the expense of others.”
“Elias Ghanem shamelessly stole more than one million dollars from investors of his companies to fund personal purchases,” stated FBI Assistant Director in Charge Raia. “Ghanem prioritized selfish greed and preyed on the wallets of his victims. The FBI will never tolerate any individual who utilizes lies and deceit to enrich themselves.”
Court documents show that between September 2018 and October 2019, Ghanem raised around $1 million from investors for Viva Capital Ventures, LLC (Viva), which he described as a cannabis distribution and manufacturing company. One investor was a retired police officer who contributed about $280,000—money he had received after being shot during an armored car robbery that resulted in the loss of his arm. Despite telling investors their money would be used for business expenses such as applying for cannabis distribution licenses across several states, Ghanem did not submit any applications and instead spent nearly $1 million on personal expenses including buying a luxury waterfront home in Babylon, New York; repaying part of a personal loan; and making restitution payments related to prior criminal charges against him in Nevada.
In another scheme involving Friends and Family Hospitality Group (FFHG), which he claimed was a restaurant business venture, Ghanem obtained roughly $400,000 from investors with promises it would go toward opening a restaurant in New York City. Instead, he used about $200,000 from these funds on jewelry purchases and leasing a condominium in Florida. When pressed by an FFHG investor for repayment, Ghanem issued checks that later bounced due to insufficient funds.
The prosecution is being handled by Assistant United States Attorneys Bradley T. King and Andrew Wang from the Criminal Section of the Long Island Division with support from Paralegal Specialist Samantha Schroder and Legal Assistant Danielle Casey.
Ghanem is 38 years old.
E.D.N.Y Docket No.: 22-CR-520 (S-1) (GRB)
