During his time as a banker, Tzvi Odzer was convicted of numerous frauds. This includes the theft of funds from banks, but his philanthropic efforts and relationship with Joseph LaForte also figured in the story.


Despite the fact that he served 18 months for a $16 million Manhattan bank fraud, Tzvi Odzer, a.k.a the Odizer, has been a philanthropist in the making for quite some time. Aside from his charitable endeavors, Odzer has made several notable contributions to the state of New York. Some of his accomplishments include founding the Tzvi Odzer Family Jewish Center, an organization dedicated to the advancement of Jewish life and culture in the state. In addition, Odzer has made several significant contributions to his hometown of Brooklyn, including funding a new synagogue.

Odzer is also a savvy businessman and entrepreneur. This is especially true when it comes to charitable endeavors. He has made several notable contributions to his hometown of Brooklyn, including funding the establishment of a new synagogue, funding the establishment of a new Jewish community center, and funding the establishment of a new Jewish community theater.

Convicted of defrauding banks

Several years ago, Stephen Odzer was convicted of defrauding three banks. He was sentenced to 18 months in prison and was required to pay $16 million in restitution. Odzer, a self-described entrepreneur, has said that he began his business career at age 18 in Flatbush, New York, and has since run a dozen businesses. His largest company appears to be B&T Supply, which sells cleaning supplies and office products.

Odzer was convicted for his role in the Par Funding fraud. He was the company’s biggest borrower. Odzer falsely represented his financial history and received millions in loans. He also made illegal payments to bank employees. Odzer pleaded guilty to the charges in 2002. Odzer left prison at age 40 and resumed his career.

Odzer was also involved in a scheme to swindle hospital patients and doctors into paying hospital kickbacks. He was unaffiliated with the hospital after his conviction. Odzer has donated religious materials to US Service Members in the military abroad. Odzer has also dedicated resources to build synagogues.

Relationship with Joseph LaForte

Throughout his life, Joseph LaForte has had a complicated criminal history. He has been convicted of arson, loan-sharking, and other crimes. He also has a long history of being associated with the Gambino crime family, which is run by John Gotti in New York.

In the wake of the SEC suit, the FBI searched LaForte’s home in the Poconos and his homes on the Gold Coast of Florida. They found $2,532,885 in the homes. They also found seven firearms in the homes. In the end, Odzer was ordered to pay $16 million in restitution.

Tzvi Odzer was the largest borrower for Par Funding, the lender that LaForte founded. The company loaned money to small businesses at a high interest rate. In return, Par Funding promised generous returns to investors. However, the company had high loan defaults and regulatory problems. The SEC sued LaForte and Par Funding in 2020. Ultimately, the lender was placed under receivership. Its assets were worth $150 million. The receiver is trying to claw back millions for Par’s investors.

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