Fraud suspect can post $200,000 bond to have passport returned

A Las Vegas man accused of defrauding elderly residents in a real estate investment scheme was given an opportunity to get his passport back by a judge who significantly raised the bail amount.

Las Vegas Justice Court Judge Joe Sciscento ordered Wednesday that Jamal Eljwaidi's bail be increased from $30,000 to $2 million.

To post bond, Eljwaidi must put up $200,000 and his passport will be returned.

It was unclear late Wednesday if Eljwaidi had posted the necessary bond.

Nevada Deputy Attorney General David Rickert objected to returning Eljwaidi's passport, saying the man is a flight risk.

Authorities contend the scheme may have netted Eljwaidi millions of dollars and that he could easily afford to forfeit the $200,000 bond.

Eljwaidi was taken into custody July 29 after arriving at McCarran International Airport from London.

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 $400,000 from one Las Vegas resident with diminished mental capacity.

Authorities have said they have confirmed at least five victims.

Sciscento ordered Eljwaidi to be in court Aug. 13 for a preliminary hearing.

Investigators accuse Eljwaidi of a scheme that involved offering 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.

Contact reporter Francis McCabe at fmccabe@reviewjournal.com or 702-387-2904.