According to the Superseding Information and Superseding Indictment, at least 2,600 of these investor victims invested their retirement savings, totaling approximately $400 million. (related document[, First Amended Complaint to Modify Party Filed by Woodbridge Liquidation Trust (related document(s)[, Receipt of filing fee for Complaint(19-51076-BLS) [cmp,cmp] ( 350.00). 919 North Market Street17th Floor Law360 provides the intelligence you need to remain an expert and beat the competition. On July 12, 2021, Los Angeles County, California natives, Dane Roseman, 38, and Ivan Acevedo, 44, pled guilty to participating in a massive investment fraud scheme, in which more than 7,000 victims suffered financial losses, in violation of 18 U.S.C. Farm Heroes Saga, the #4 Game on iTunes. He thanked the SEC Miami Regional Office and the U.S. Attorneys Office for the Central District of California for their assistance. Michael Goldberg, Liquidation Trustee Filed by Epiq Class Action & Claims Solutions, Inc.. (related document(s)[22]) (Gallerie, Bridget), Notice of Agenda of Matters Scheduled for Hearing Filed by Michael Goldberg. By using later investor funds to pay earlier investors' interests, Shapiro thus purportedly portrayed the scheme as legitimate when, in fact, it was fraudulent and on the verge of financial disaster. The Ponzi fraud fell apart after payments to investors stopped and Woodbridge filed for bankruptcy. Fort Lauderdale, FL 33301 . (U.S. Treasury), Adversary case 19-51076. Shapiro is said to have enjoyed a luxury lifestyle of chartered planes, country-club fees, Porsche cars and pricey jewelry. Jeri was pictured with her friend and TV judge Jeanine Pirro in 2016. right. Judge Marcia G. Cooke ordered Woodbridge and its 281 related companies to pay $892 million in disgorgement. Shapiro and his wife, Jeri, agreed to forfeit assets including paintings by Picasso ("Face With Circles, Picador and Fish Subject"), Renoir ("Portrait de Rosita Mauri"), Chagall ("Le Clown Flutiste . 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.Of this $1B, Woodbridge and its 281 related companies must pay $892M in disgorgement. . 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. Robert Shapiro of the bankrupt Woodbridge Group used to live at Aspen Glen, where his company also had numerous real estate holdings. He did not admit nor deny the allegations. 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 . The indictment further alleges that Shapiro caused most of the Woodbridge companies to file Chapter 11 bankruptcy, which caused investors to suffer substantial losses, as they were owed close to $1 billion in principal. 371. Woodbridge Liquidation Trust v. Shapiro et al Case No. (Robinson, Colin), Affidavit/Declaration of Service re: Entry of Default. 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. 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.
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