U.S. District Court judge in the DOJ case against Avraham Eisenberg for allegedly defrauding Mango Markets of $110 million, ruled, as per defense arguments, that New York did not have jurisdiction, as Eisenberg traded from Puerto Rico when alleged scheme took place

Event date

May 23, 2025

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The judge also rejected prosecutors’ argument that the case should be heard in New York. Eisenberg was in Puerto Rico at the time of the trades, and the court found that no meaningful activity tied to the alleged crime occurred in New York.

The ruling also rejected New York as the proper venue for the trial. Eisenberg was based in Puerto Rico during the trades, and the judge dismissed the DOJ’s attempts to tie the case to the state through a Mango user in Poughkeepsie and a third-party service provider in Manhattan

But Subramanian rejected those points, saying in his ruling that “Eisenberg was never in New York in connection with this scheme; he was in Puerto Rico. He didn’t make trades in New York, call or email anyone in New York.” The judge also agreed with Eisenberg’s argument that all the trades “were executed using a smart order routing engine that wasn’t in New York, as far as the evidence at trial showed.”

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Week 21 of 2025