Earlier today, Elias Ghanem II, a former resident of Las Vegas, Nevada, was sentenced to 84 months in prison for his role in a scheme that defrauded investors of about $1.4 million through false promises involving cannabis and restaurant ventures. The sentencing took place in federal court in Central Islip before United States District Judge Gary R. Brown. Ghanem was also ordered to pay approximately $1.4 million in restitution to the victims. He had pleaded guilty to wire fraud in February 2025.
The announcement came from Joseph Nocella, Jr., United States Attorney for the Eastern District of New York, and Christopher G. Raia, Assistant Director in Charge of 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 and admissions show that between September 2018 and October 2019, Ghanem raised around $1 million from investors for Viva Capital Ventures, LLC (Viva), which he claimed was a cannabis distribution and manufacturing company. One investor—a retired police officer—put in about $280,000 he had received after being injured during an armored car robbery that resulted in the amputation of his arm. Instead of using these funds as promised for business expenses such as applying for cannabis distribution licenses across several states, Ghanem diverted nearly $1 million for personal use. This included buying a luxury waterfront home in Babylon, New York; paying off part of a personal loan; covering personal expenses; and making restitution payments related to prior criminal charges against him in Nevada.
In another fraudulent operation, Ghanem solicited roughly $400,000 from investors under the pretense it would be used by Friends and Family Hospitality Group (FFHG) to open a restaurant in New York City. Instead, about $200,000 went toward jewelry purchases and leasing a condominium in Florida. When pressed by an FFHG investor for repayment, Ghanem issued checks that were returned due to insufficient funds.
The prosecution was managed 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.
Elias Ghanem II is 38 years old and previously lived in Las Vegas, Nevada.
