Case of man accused of investment scheme headed to court

The case against a Las Vegas man accused of swindling elderly residents in a real estate investment scheme will be sent to District Court.

Las Vegas Justice of the Peace Joe Sciscento ordered so this morning after Jamal Eljwaidi's attorney announced he had not paid back money in excess of $300,000 to the alleged victims, as per negotiations with prosecutors.

Attorney Steve Wolfson said his client needed one more week to pay back the money, but prosecutors would not agree to the extension.

Eljwaidi, who authorities said also uses the alias Jean Marc, faces six counts of elder exploitation based on allegations that he defrauded local residents of at least $600,000, including about $400,000 from one Las Vegas resident with diminished mental capacity.

Authorities have said they have confirmed at least five victims.

Investigators accuse Eljwaidi of a fraud scheme that offered high-interest payments for investments in his projects, including a shopping center next to his offices at 8820 Russell Road, near the Las Vegas Beltway.