Former Woodbridge Group of Cos. president and CEO Robert Shapiro has reached a settlement deal with the Securities and Exchange Commission by agreeing to pay more than $120 million in fines and penalties without admitting or denying he orchestrated an alleged Ponzi scheme that cheated investors out of $1.2 billion, according to a filing made last week in federal court. Acting U.S. Attorney Gonzalez commended the investigative efforts of the FBI, IRS-CI and OFR in this matter. (Attachments: # (1) Exhibit A # (2) Declaration # (3) Exhibit 1 to Declaration # (4) Certificate of Service) (Robinson, Colin), Affidavit/Declaration of Service re: Notice of Agenda of Matters Scheduled for Hearing on May 19, 2021 at 9:00 AM (Prevailing Eastern Time) before the Honorable J. Kate Stickles. Jeri Shapiro - $149,400 in Political Contributions for 2016 Fla., Miami Division)", Status of Criminal Proceedings Against Robert Shapiro, SPECIAL NOTICE TO HOLDERS OF CLASS A LIQUIDATION TRUST INTERESTS REGARDING "UNCASHED" OR "UNDELIVERABLE" CHECKS, Notice of Quarterly Report of the Liquidation Trust for the period ending March 31, 2019, United States Department of Justice's PRESS RELEASE "Owner of Woodbridge Group and Two Former Directors Charged with $1.3 Billion Investment Fraud (Ponzi) Scheme Involving 10k Victims, United States Securities and Exchange Commission's PRESS RELEASE "SEC Charges Former Woodbridge Directors of Investment Fraud", PRESS RELEASE - WOODBRIDGE LIQUIDATION TRUST ANNOUNCES FIRST DISTRIBUTION TO ITS HOLDERS. Share sensitive information only on official, secure websites. The views expressed in the contents above are those of our users and do not necessarily reflect the views of MailOnline. The SEC has ordered her to disgorge almost $1.4M and pay nearly $165K of prejudgment interest. Wed love to meet you and give you a tour of Aspen Glen, itsworld-class Clubhouse andthe many gorgeousavailable lots for purchase here and by no means least, youll be able to take a sneak peek at some of ourbeautiful Aspen Glen custom spec homes that aredue for completion laterthis summer. To display the docket in chronological order, This resolution accomplishes one of the SEC's core missions to protect retail investors,' said Stephanie Avakian, Co-Director of the SEC's Division of Enforcement. Chicago, DallasFort Worth, Denver, Detroit, Houston, Los Angeles, Miami, New York City, Philadelphia, Phoenix, San Bernardino-Riverside, San Diego, San Francisco, Seattle, St. Louis, TampaSt. (Robinson, Colin), Affidavit/Declaration of Service re: Entry of Default. (Koonin, Russell) December 29, 2017: Filing 47 SUMMONS (Affidavit) Returned Executed on #1 Complaint, with a 21 day response/answer filing deadline by Securities and Exchange Commission. The Trust entered into a resolution agreement with the DOJ which provided that the Trust would receive the assets forfeited by Robert and Jeri Shapiro (the "Forfeited Assets"). Click to access Woodbridge-10Q-March312022.pdf.pdf. Between 2015 and 2017 he served as the sales manager of Woodbridge. Assistant U.S. Attorney Sara Klco is handling the asset forfeiture component of the case. A federal judge has now ordered them cough up $1 billion in payments and fines after the SEC in 2017 filed an emergency court action. Woodbridge executives settle with SEC for $3.75 million Court records show other family members, including a nephew, an uncle and a stepson also profited. 19-01100 (mew) decision concerning debtor's place of residence . Shepherd Smith Edwards and Kantas, LLP (SSEK Law Firm) works with investors that have lost money because they fell victim to a Ponzi scam. 0:00. Try our Advanced Search for more refined results. Why the digital generation of investors is shaking things up, Rise of the unmotivated buyer and seller: Home sales stall in stand-off over prices in wake of mortgage spike, Equity release nosedives in popularity as typical rates went as high as 8% - and sub-4% deals are unlikely to return f, Rents outside of London soar to an average of 1,190 a month as tenants compete for a lack of homes to let, Victory for mums after five-year This is Money campaign! . Moment commuter blasts eco-zealots, Moment bull suffers catastrophic injuries after leaping from bridge, Russian freight train derails and bursts into flames after explosion, Royal superfans camping on The Mall ahead of King's Coronation, Historic chairs to be reused by the King for the coronation service, Women's rights activists and pro-trans campaigners separated, Saboteurs wreck Russian train cut power cables 37mi from Ukraine, Cambridge students party in the park during annual celebrations, Devastating tornado picks up car and hurls it through air in Florida, Student kicked out of school for 'there are only two genders' t-shirt, Unseen footage of Meghan Markle during her teenage years, Hundreds of Household Division members rehearse for coronation. The scheme also involved misrepresentations to financial planners who helped Woodbridge to sell investments to potential investors. SHAPIRO, JERI SHERMAN OAKS, CA 91423: Woodbridge Group Of Companies/Vice President: $1,000: 10/07/2016: G: SCOTT TAYLOR FOR CONGRESS - Republican: SHAPIRO, JERI . Part of the Daily Mail, The Mail on Sunday & Metro Media Group, I am 70 and live off a successfully invested 220,000 pension fund, but at my age should I buy an annuity? ), Motion for Default Judgment against Defendant, Schwartz Media Buying Company, LLC Filed by Woodbridge Liquidation Trust. SEC Charges Calif. Businessman In $1.2B Ponzi Scheme Official websites use .gov Published By Shepherd Smith Edwards & Kantas, LLP, NorthStar Financial Services (Bermuda) - Learn More Here, US Securities and Exchange Commission (SEC), Shepherd Smith Edwards and Kantas, LLP (SSEK Law Firm), Woodbridge Structured Funding WMF Management, Woodbridge Mortgage Investment Funds 1, 2, 3, 3A, and 4, Woodbridge Commercial Bridge Loan Funds 1 and 2. Our Woodbridge fraud attorneys can help you explore your legal options. If you invested with any broker, financial adviser, or firm in the SEC-alleged fraudulent Woodbridge Group of Companies, including Woodbridge Mortgage Investment Fund products or other Woodbridge promissory notes or private placements, and these transactions have proven harmful when the Fund failed to meet its scheduled payment obligations, please call The Law Offices of Jonathan W. Evans & Associates at (800) 699-1881 for an investigation and consultation. The SEC formally charged Woodbridge Group of Companies and owner Robert H Shapiro of Sherman Oaks, California and Aspen, Colorado with securities fraud, ordering their assets frozen and alleging the group defrauded more than 8,400 investors, many of whom were seniors who financed their investments by using retirement savings, in a "massive" $1.2 billion Ponzi scheme that utilized unregistered Woodbridge Funds. Hearing scheduled for 5/27/2020 at 10:30 AM at US Bankruptcy Court, 824 Market St., 6th Fl., Courtroom #1, Wilmington, Delaware. Since the lawsuit hit, a number of Woodbridge-owned properties have come on the market for sale. FB We represented Jeri Shapiro, the wife of Woodbridge Financial Group's principal and CEO, Robert Shapiro, in related DOJ and SEC proceedings, and secured a binding non-prosecution agreement for her in 2019. They worked for Robert Shapiro, Woodbridge's CEO, who in 2019 . Woodbridge Commerical Bridge Loan Fund 2, LLC. The Ponzi fraud fell apart after payments to investors stopped and Woodbridge filed for bankruptcy. Receipt Number 9551150, amount $ 350.00. Shapiro was the nominee owner of several closely-held companies that received tens of millions of dollars at the direction of her husband, who ultimately pled guilty and was sentenced to 25 years in prison. By Vince Sullivan (October 8, 2019, 4:40 PM EDT) -- The liquidating trust created by the Chapter 11 plan of defunct real estate investment enterprise The Woodbridge Group of Cos. asked a Delaware judge late Monday for permission to take discovery from the wife of the mastermind behind a $1.3 billion Ponzi scheme that defrauded thousands of investors. U.S. Bankruptcy Court for the District of Delaware, Access to case data within articles (numbers, filings, courts, nature of suit, and more. Affidavit/Declaration of Service re Notice of Agenda and Amended Agenda of Matters Scheduled for Telephonic Hearing on May 27, 2020 at 10:30 A.M. (Prevailing Eastern Time) (related document(s)[, Notice of Agenda of Matters Scheduled for Telephonic Hearing. SEC Charges Woodbridge Group of Companies in 'Massive' $1.2 Billion Woodbridge Financial: Representation of Jeri Shapiro, . The most notable was the Owlwood Estate, a 10-acre mansion in Holmby Hills once owned by Sonny Bono and Cher. Woodbridge promoted investments through telephone and in-person conversations, e-mails and website displays. Already a subscriber? Hearing scheduled for 2/8/2022 at 10:30 AM at US Bankruptcy Court, 824 Market St., 3rd Fl., Courtroom #7, Wilmington, Delaware. The settlement comes exactly two years after the SEC first launched their investigation into the Sherman Oaks-based company and a web of more than 250 Shapiro-controlled shell companies for allegedly orchestrating a fraud. Judge Janet Kathleen Stickles added to case. Reports and Letters by the Liquidation Trustee Robert Shapiro | Woodbridge Group of Companies | SEC Robert Shapiro (1) Guilty Counts 1,10 [ECF No. The complaint alleges she owns assets, including real estate . All the defendants and relief defendants named in the SECs case have settled but without denying or admitting to the regulators allegations. District of Delaware He also spent at least $21 million of investor money on private jets, luxury country clubs, plus other extravagances, the SEC claims. Case No. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply. Marlene Rodriguez A federal court has ordered the Woodbridge Group of Companies and its former CEO and owner Robert H. Shapiro to pay $1B in disgorgement and penalties for allegedly running a $1.2B Ponzi scam that victimized 8,400 retail investors, including many senior investors who ended up losing their retirement money. Law360 may contact you in your professional capacity with information about our other products, services and events that we believe may be of interest.Youll be able to update your communication preferences via the unsubscribe link provided within our communications.We take your privacy seriously. Shapiro's lawyer Ryan O'Quinn said his client settled the SEC action but had not admitted the allegations and has previously denied running Woodbridge as a Ponzi scheme. Last but not least, if youdrop by ourAspen Glen officeanyFriday, we serve gourmet muffins and fresh coffee all daymeanwhile,all of us at Woodbridge Realty of Colorado wish youa successful and prosperous 2016! Over the years, SSEK Law Firm helped thousands of clients in getting back their financial losses caused by broker fraud, investment adviser fraud, and other kinds of securities fraud. According to the indictment, superseding information, and court documents, Shapiro spearheaded and concealed an enormous Ponzi scheme through his business, Woodbridge. He would then use new investments to pay off older ones. Bradford Sandler, Esq. 91.ih]?b_D&B?@,~L+ tC0Lsp=Ik"n" QCn4dry.~s#F61Fq(%RDQaQ(KTaT]T&4k!sy9m^h65o4o1?l~||?31&;3.6fn5:fk'[HHZ4| _"#3 H!O*c-H/Q"A-n.)yk . Woodbridge Liquidation Trust Attn: Michael Goldberg, Liquidation Trustee c/o Akerman, LLP 350 East Las Olas Boulevard, Suite 1600 . According to the Superseding Information and Superseding Indictment, at least 2,600 of these investor victims invested their retirement savings, totaling approximately $400 million. Government FINALLY agrees to fix child benefit fiasco denying parents valuable state pension credits, Are YOU cutting back on pension contributions: Money worries tempt some to opt out - but a five-year gap in your 20s can cost you 114,000, 'We're not your enemies!' Woodbridge Liquidation Trust v. Shapiro et al Securities and Exchange Commission v. Shapiro et al - UniCourt Jeri Shapiro. The Woodbridge sales operation controlled by Shapiro, managed by Acevedo then Roseman, functioned as a phone room and featured high-pressure sales tactics, deception, and manipulation. A locked padlock Here's the link to this latest SEC filing. Robert Shapiro, his bankrupt company Woodbridge, and others face an SEC complaint on Ponzi allegations with a narrative of luxury partnerships gone awry,. Public Affairs Officer United States Bankruptcy Court Even as it filed for bankruptcy, Woodbridge retained Shapiro as a "consultant," for which the company paid a rate of $175,000 per month to another entity called "WMF Management," formed in September 2017, that Shapiro owns and manages. Colorado and Idaho regulators also initiated investigations of Woodbridge. (310) 203-4271, Reports and Letters by the Liquidation Trustee, Change Of Name or Address/Registration Of Transfers, Woodbridge Liquidation Trust - 2022 Grantor Letter, PRESS RELEASE - Woodbridge Liquidation Trust Announces Cash Distribution, PRESS RELEASE -Woodbridge Liquidation Trust Announces Cash Distribution, Important Information Regarding the 2021 Grantor Letters for the Woodbridge Liquidation Trust, Notice of Proposed Comerica Class Action Settlement, Notice Concerning Roseman and Acevedo Criminal Case, NOTICE CONCERNING THE JANUARY 27, 2021 DISTRIBUTION, NOTICE TO HOLDERS OF INTERESTS IN THE WOODBRIDGE LIQUIDATION TRUST - Important Information Regarding Your 2020 Income Tax Returns, PRESS RELEASE - Woodbridge Liquidation Trust Urges Its Holders to Safeguard Against Unauthorized E-Mails, Notice to Woodbridge Liquidation Trust Beneficiaries regarding 2019 Grantor Letter, IMPORTANT UPDATE REGARDING YOUR 2019 INCOME TAX RETURNS, PRESS RELEASE - Woodbridge Liquidation Trust Announces DTC Eligibility of Class A Liquidation Trust Interests, PRESS RELEASE - Woodbridge Liquidation Trust Announces Trading Symbol and Intent to Apply to Depository Trust Company for Direct Registration System Services, Notice to Trust Beneficiaries - Important Information Regarding Your 2019 Income Tax Returns, Liquidation Trustees Letter to Holders of Liquidation Trust Interests Regarding Pending Tender Offer by Contrarian Liquidity Option, LLC, Woodbridge Liquidation Trust Announces Cash Distribution, Liquidation Trustees Letter to Holders of Liquidation Trust Interests Regarding Form 10-12G Registration Statement, Recommendation by Liquidation Trustee and Supervisory Board Regarding Contrarian Tender Offer, Liquidation Trustees Letter to Holders of Liquidation Trust Interests Regarding Recommendation on Contrarian Tender Offer, Liquidation Trustee's Letter to Holders of Liquidation Trust Interests regarding Contrarian Funds LLC Tender Offer, Liquidation Trustee's Letter to Holders of Liquidation Trust Interests, Liquidation Trusts Third Quarter Report for the period ending September 30, 2019, Liquidation Trustee's Letter to Beneficiaries regarding the Woodbridge Liquidation Trust Form 10 Registration Statement. CtMercer Vine''), Riverdale Funding, Southern District of Florida | Owner of Woodbridge Group and Two Former Cocktails, fine wine and Dom Perignon flowed,ushering in 2016 with a grand flourish and the buffetwas afeast for the eyes, withamouthwateringdisplayof prime rib, spring lamb,oysters, crab, shrimp and every type of charcuterieandhors doeurvesimaginable. Former Woodbridge Group of Companies CEO Sentenced to 25 Years in (related document(s)[15]) Notice Date 06/26/2020. Shapiro's wife, Jeri, who was VP at Woodbridge for several years, has also been named as a relief defendant in the lawsuit. And the husband and wife were even thought to have played golf with Happy Days actor Scott Baio, who called them a 'great couple' in the same year. Former Woodbridge CEO Shapiro pleads guilty, faces up to 25 years in Ushering in the New Year in Style Thanks to the kind generosity of Bob and Jeri Shapiro, New Year's Eve 2015 at Aspen Glen will remain a night to remember! Federal authorities alleged that Woodbridge defrauded thousands of investors in an $3 billion dollar Ponzi scheme that marketed real . #37.1 - Filed 09/12/2016: Appendix Joint Exhibit and Witness List Those who invested were said to have been told their money would be used to buy 'secure' real estate, with annual returns of up to eight per cent payable each month and were found through advert, cold calls and social media. He did not admit nor deny the allegations. The returns over summer for all the world's major stock markets revealed, Would you back risky AIM shares to beat inheritance tax? milton davis, robert shapiro, jeri shapiro, dane r. roseman, a/k/a "dayne roseman," ivan acavedo, woodbridge mortgage investment fund 1 llc, the alleged lender, howard l. sherman, and richard salvato defendants. Jeri was pictured with her friend and TV judge Jeanine Pirro in 2016. right. PDF UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF FLORIDA Case No. 17 Hearing scheduled for 2/8/2022 at 10:30 AM at US Bankruptcy Court, 824 Market St., 3rd Fl., Courtroom #7, Wilmington, Delaware. Liquidation Trustee's Status Letter to Beneficiaries, United States v. Robert Shapiro - Jeri L. Shapiro's Consent to Forfeiture ECF No. woodbridge mortgage commercial bridge loan fund 2, llc, 144 woodbridge-affiliated property limited liability companies, 131 woodbridge-affiliated holding limited liability companies, defendants, and jeri shapiro, woodbridge realty of colorado, llc, d/b/a woodbridge realty unlimited, woodbridge luxury homes of california, inc., (Attachments: # (1) Notice # (2) Exhibit A # (3) Certificate of Service and Service List) (Robinson, Colin), Request for Entry of Default Solely as to Defendant Schwartz Media Buying Company, LLC Filed by Woodbridge Liquidation Trust. The docket is currently displayed in reverse chronological order. The companys marketing materials touted an over 90% renewal rate from investors because of proven results.. (related document(s)[28]) Notice Date 01/20/2022. RS Protection Trust. Robert Shapiro sentenced to imprisonment for a term of 300 months, supervised release for 3 years, $200 special assessment, restitution and forfeiture. 371. The firm's Woodbridge Realty Unlimited entity conducted business in Aspen and Roaring Fork Valley, Colorado, while Woodbridge Luxury Homes of Southern California concerned itself with real estate and mega-mansion development in the Greater Los Angeles communities of Sherman Oaks, Hidden Hills, Beverly Hills, and Bel Air. Amended HEARING CANCELLED. (Admin. Despite Woodbridges claims that these investments would be backed by properties owned by third parties, in fact, to the extent that the properties existed, they were secretly owned by Shapiro. Filed by Epiq Class Action & Claims Solutions, Inc.. (related document(s)[, Affidavit/Declaration of Service re: Notice of Agenda of Matters Scheduled for Hearing on February 8, 2022 at 10:30 a.m. (Prevailing Eastern Time) Before the Honorable J. Kate Stickles. Of that, Shapiro misappropriated approximately $25 million to $95 million in investor money for himself and for the benefit of his immediate family members. Please do not include any confidential or sensitive information in a contact form, text message, or voicemail. : 143] 08/07/2019 : United States v. Robert Shapiro - PAPERLESS Notice of Sentencing Hearing as to Robert Shapiro set for 10/15/19 @ 8:30 a . Robert Shapiro was accused of fleecing 9,000 investors with a promise of profits on real estate loans, and . The real estate developer was accused of running a $1.2B massive fraud operation. In total, Shapiro and his co-conspirators convinced more than approximately 9,000 investors to invest more than $1.29 billion to Woodbridge. PDF UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF FLORIDA - Archive Jeri is currently based in Cleve land, Ohio. The fraud scammed approximately 8,400 victims of retail investors, many of them elderly. Please see our Privacy Policy. Shapiro, the former CEO of Woodbridge Group of Companies, and his wife, Jeri, as well as other entities named as defendants in the SEC lawsuit, will pay a combined $892 million to the commission . Co-defendant Robert Shapiro, the former owner, president, and CEO of Woodbridge Group of Companies LLC ("Woodbridge") was previously . Law360 provides the intelligence you need to remain an expert and beat the competition. : 143], United States v. Robert Shapiro - PAPERLESS Notice of Sentencing Hearing as to Robert Shapiro set for 10/15/19 @ 8:30 a.m. [ECF No. A Ponzi scheme is a fraudulent investing scam promising high with little risk to investors. Filed by Epiq Class Action & Claims Solutions, Inc.. (related document(s)[, Amended Notice of Agenda of Matters Scheduled for Hearing Filed by Liquidation Trust. Robert Shapiro, left with his wife Jeri, owned The Woodbridge Group of Companies. Other victims are said to have included a widow, 89, in a memory care facility in Tennessee. Jeri Shapiro waiver sent on 12/22/2017, answer due 2/20/2018. PDF USA_v_Shapiro_et_al__flsdce-19-20178__0167.2.pdf PLEASE NOTE: A verification email will be sent to your address before you can access your trial. Law360 takes your privacy seriously. Former Woodbridge CEO Shapiro pleads guilty, faces up to 25 years in While SEC investigators were busy unraveling the Woodbridge Ponzi and cover-up scheme, which primarily concerned 12-to-18-month promissory notes and seven private placement fund offerings with five-year terms, Woodbridge's public statements blamed regulators for being too strict, claiming that industry rules were to blame for the company's money troubles. The SEC also charged 18 sales agents. 2019 Ted Fund Donors >Lbbn?\#3vpksKO"wP1ip//<3s|O~a. Securities and Exchange Commission v. Shapiro et al How seeing a private dentist need not hurt your wallet as much as you fear: But how much will you pay - and what is the best way to fund your treatment? Jeri Shapiro agreed to forfeit more than $9 million in accounts and property that she acknowledged the government could prove had been transferred from the debtors' accounts or had been purchased . Submitting a contact form, sending a text message, making a phone call, or leaving a voicemail does not create an attorney-client relationship. Two Remaining Defendants of $1.3 Billion Investment Fraud (Ponzi In reality, the SEC says Woodbridge, based in California after it was founded in Boca Raton, made no interest payments and used money from new investors to pay older ones in classic Ponzi scheme fashion. Robert Shapiro, an alleged mastermind behind a $1.2 billion Ponzi scheme, has agreed to pay $120 million to the Securities and Exchange Commission as part of a settlement agreement. Representation of Jeri Shapiro, the wife of Woodbridge Financial Group's principal and CEO, Robert Shapiro, who was accused of running a $1.3 billion dollar investor Ponzi scheme. The following documents are in PDF format. Former Woodbridge CEO Shapiro pleads guilty, faces up to 25 years in Secure .gov websites use HTTPS Roseman is scheduled to be sentenced on September 20, at 1:00 p.m. and Acevedo is scheduled to be sentenced on September 20, at 1:30 p.m., by U.S. District Judge Cecilia M. Altonaga, who sits in Miami. Read the SECs Final Judgment in the Woodbridge Case. CEO Sentenced to 25 Years for Leading $1.3 Billion Real Estate Ponzi Scheme. Securities and Exchange Commission v. Shapiro, 1:17-cv-24624
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