Former Borough Park Businessman Dies in Thailand Motorcycle Crash

BROOKLYN (VINnews/Sandy Eller) – Eli Ostreicher, a self-taught serial entrepreneur who hailed from London’s Hasidic community and lived in the Borough Park area for years, passed away in a motorcycle accident in Thailand at the age of 39.

As previously reported on VIN News, Ostreicher was the owner of five different companies when his Borough Park based Regal Wings earned the number one spot on Inc. Magazine’s 500 List in the Travel and Hospitality category in 2013. A luxury and corporate services travel provider, Regal Wings was one of several travel-related companies that Ostreicher founded and its client roster included giants such as Walmart, Rolex, the United Nations and Berkshire Hathaway.

Ostreicher supplemented his Hasidic education with computer courses, combining that knowledge with his love of geography, his obsession with travel, his willingness to work long hours and his innate people skills to launch multiple profitable endeavors that employed several dozen employees in the United States and tens more overseas.

He maintained close ties with the Hasidic community, both in London and in Brooklyn, and in addition to having his door was open at the end of business each day to those soliciting donations.

A $500,000 donation to Bonei Olam as he and his business partner were honored at the organization’s 2013 dinner was initially intended to be given under the radar. A YouTube video of the dinner shows Bonei Olam founder Rabbi Schlomo Bochner explaining that he convinced Ostreicher to go public with his pledge, given in conjunction with Regal Wings, in order to inspire others to contribute as well.

Reading am email from Ostreicher aloud, Rabbi Bochner told the audience, “I decided to pledge $500,000 an amount that I am sure will put a smile on the faces of many couples who are living in pain.”

The circumstances of Ostreicher’s passing have yet to be confirmed and details regarding his levaya have not been set as of this writing.

Ostreicher was the nephew of Jacob Ostreicher, who was incarcerated in Bolivia for 30 months on bogus money laundering charges, and was rescued from prison by actor Sean Penn after lobbying efforts by federal elected officials failed to secure his release.

The Associated Press reported that over a dozen government officials, including prosecutors and judges, were ultimately jailed for extorting the Brooklyn businessman.