Jeri Shapiro waiver sent on 12/22/2017, answer due 2/20/2018. In addition to Shapiro and Woodbridge Group of Companies, LLC, the SEC named RS Protection Trust, WMF Management, Woodbridge Structured Funding, Woodbridge Mortgage Investment Fund (1, 2, 3, 3A, and 4), Woodbridge Commercial Bridge Loan Fund (1 and 2), and over 275 additional Woodbridge-affiliated LLCs as defendants. Robert Shapiro, his bankrupt company Woodbridge, and others face an SEC complaint on Ponzi allegations with a narrative of luxury partnerships gone awry,. Case No. Reports and Letters by the Liquidation Trustee (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). Click to access Woodbridge-10Q-March312022.pdf.pdf. A Florida businessman and his former company must pay $1billion for swindling 8,400 people, including ABC anchorGeorge Stephanopoulos, to fund his luxury, celerity studded lifestyle. 19-51076-BLS. 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. (Robinson, Colin), Certificate of No Objection Regarding Motion for Default Judgment against Defendant, Schwartz Media Buying Company, LLC (related document(s)[, Notice of Agenda of Matters Scheduled for Hearing Filed by Liquidation Trust. 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. Please see our Privacy Policy. Shapiro's wife, Jeri, who was VP at Woodbridge for several years, has also been named as a relief defendant in the lawsuit. 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. In fact, you dont even need to live here as we have it all covered. (U.S. Treasury), Adversary case 19-51076. Robert H. Shapiro, 62, defrauded . Of this $1B, Woodbridge and its 281 related companies must pay $892M in disgorgement. The SEC sued Shapiro in December 2017, accusing him of misleading investors. A Ponzi scheme is a fraudulent investing scam promising high with little risk to investors. Prior to SEC involvement, states had already begun to uncover the true fraudulent nature of Robert H Shapiro's Woodbridge Group of Companies. The real estate developer was accused of running a $1.2B massive fraud operation. Using high-pressure sales tactics, Shapiro, Roseman, Acevedo, and others marketed and promoted these investments as low-risk, safe, simple, and conservative. Woodbridge and Its Ex-Owner Must Pay $1B Over Alleged Ponzi Scam Hosted by Woodbridge Realty of Colorado for the second consecutive year, 250 revelers and party-hounds danced into the wee small hours of 2016 to the music of Grammy Password (at least 8 characters required). 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. . please click here. Jeri Shapiro waiver sent on 12/22/2017, answer due 2/20/2018. . SEC Charges Calif. Businessman In $1.2B Ponzi Scheme <>stream It is further ORDERED and ADJUDGEDthat Jeri Shapiro shall satisfy the disgorgement and prejudgment interest due to the Commission by paying $100,000 as set forth in the payment plan in Paragraph II and disgorging the following assets to the bankruptcy estate in the matter of In Re Woodbridge Group of Companies, LLC, et al., Case No. . : 138], Notice of Quarterly Report of the Liquidation Trust for the period ending June 30, 2019, SPECIAL NOTICE TO HOLDERS OF CLASS A LIQUIDATION TRUST INTERESTS REGARDING "UPDATE IN CRIMINAL MATTER United States v. Robert Shapiro, 19-cr-20178-CMA (S.D. 0:00. According to the SEC's complaint, Shapiro fraudulently used money from newer investors to pay returns owed to existing investors all while the Shapiro family lived in luxury, spending investor money on luxury automobiles, jewelry, country club membership, and chartering private planes. According to the indictment, superseding information, and court documents, Shapiro spearheaded and concealed an enormous Ponzi scheme through his business, Woodbridge. Robert Shapiro, a former Roaring Fork Valley resident and former CEO and president of the Woodbridge Group of Companies LLC, faces as many as 25 years in prison after pleading guilty last week to running a $1.3 billion Ponzi scheme that claimed more than 7,000 victims. }l,%~yK.e]Jr)R%KKds/X_ rc/ p^.HdsW'mS. Southern District of Florida | Owner of Woodbridge Group and Two Former 'The settlement provides for the return of significant funds to investors.'. 17-12560-KJC, #2 . Relief defendants Jeri Shapiro (Shapiro's wife), Woodbridge Realty of Colorado, LLC d/b/a Woodbridge Realty Unlimited CtWoodbridge Realty''), Woodbridge Luxury Homes of California, Inc. d/b/a Mercer Vine, lnc. 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. Co-defendant Robert Shapiro, the former owner, president, and CEO of Woodbridge Group of Companies LLC ("Woodbridge") was previously . Woodbridge Mortgage Investment Fund 3, LLC, Woodbridge Mortgage Investment Fund 3A, LLC, Shapiro Property and Holding LLC, Woodbridge Commerical Bridge Loan Fund 1, LLC., WMF Management, LLC., Woodbridge Mortgage Investment Fund 2, LLC . HEARING CANCELLED. #37.1 - Filed 09/12/2016: Appendix Joint Exhibit and Witness List He also is banned from taking part in any penny stock offerings. District of Delaware Investigators found that Capuano failed to seek or obtain approval from Royal Alliance before participating in the Woodbridge transactions, and that he failed to disclose the sales to the firm. Filed by Epiq Class Action & Claims Solutions, Inc.. (related document(s)[12], [, Affidavit/Declaration of Service re Entry of Default (related document(s)[15]) Filed by Epiq Class Action & Claims Solutions, Inc.. (Gallerie, Bridget), BNC Certificate of Mailing. Throughout the conspiracy, Woodbridges main business model was to solicit money from investors and, in exchange, issue investors promissory notes reflecting purported loans to Woodbridge that paid high monthly interest rates. The scheme ran from at least July 2012 to December 2017, when Woodbridge filed for Chapter 11 bankruptcy and defaulted on its obligations to investors. Shapiro at times would utilize another LLCShapiro Property LLCto mask his misconduct, and issue notes from Shapiro Property LLC, with an interest rate of zero, to Woodbridge. Representation of Jeri Shapiro, the wife of Woodbridge Financial Group's principal and CEO, Robert Shapiro, who was accused of running a $1.3 billion dollar investor Ponzi scheme. Summons and Notice of Pretrial Conference Served on Defendants 3X A Charm, LLC, Carbondale Basalt Owners, LLC, Davanna Sherman Oaks Owners, LLC, In Trend Staging, LLC, Midland Loop Enterprises, LLC, Schwartz Media Buying Company, LLC, Jeri Shapiro, Robert Shapiro, Stover Real Estate Partners, LLC. However, Shapiros real estate portfolio failed to generate sufficient cash flow to satisfy the loan obligations and interest payments owed to investors. As a result, people are putting their namesforward tomake sure theyreon the invitation list for December 31st 2016 and if youd like to be included, just drop by the Woodbridge Realty of Colorado offices at Aspen Glen and introduce yourself. Shapiro would promise investors high returns on their investments, specifically luxury spec homes, only to then channel their money into several different entities he controlled. {HB[4A@\@EYD@A@`q[mummuHiyt;iT'~?Nn{(B/&1]T:`!DvBZlrqBDB[iPW=dHb^B=Q[]M!c$D\TU Required fields are marked *. Robert Shapiro, left with his wife Jeri, owned The Woodbridge Group of Companies. 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. 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? Even in the wake of these cease and desist orders, Woodbridge nonetheless continued to sell investment products to residents of the aforementioned states, soliciting approximately $9 million after being instructed to cease and desist, falsely mischaracterizing that the company had been "exonerated of any wrongdoing or fraudulent activity" when no such determination was made. He also spent at least $21 million of investor money on private jets, luxury country clubs, plus other extravagances, the SEC claims. Michael Goldberg, Liquidation Trustee By Lauren Fruen For Dailymail.com and Associated Press, Published: 15:59 EDT, 28 January 2019 | Updated: 17:38 EDT, 29 January 2019. Filed by Liquidation Trust. Robert Shapiro sentenced to imprisonment for a term of 300 months, supervised release for 3 years, $200 special assessment, restitution and forfeiture. Fee Amount $350 (13 (Recovery of money/property - 548 fraudulent transfer)),(14 (Recovery of money/property - other)). Related court documents and information may be found on the website of the District Court for the Southern District of Florida at www.flsd.uscourts.gov or on http://pacer.flsd.uscourts.gov, under case number 19-cr-20178. Do not sell or share my personal information. 19-01100 (mew) decision concerning debtor's place of residence . Jeri Shapiro works at American Greetings, which is a Commercial Printing company with an estimated 1633 employees. ', 'Our complaint charged that when Woodbridge's fictitious business model collapsed, the company stopped paying investors and filed for Chapter 11 bankruptcy protection,' said Eric I. Bustillo, Director of the SEC's Miami Regional Office. Woodbridge Realty of Colorado Hosts the 2015 New Years Eve Party at Aspen Glen. The following documents are in PDF format. 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. 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 . (related document(s)[, Status Report Liquidation Trust's Status Report for May 19, 2021 Status Conference Filed by Michael Goldberg. 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"). In its motion seeking discovery under Rule 2004 of the Bankruptcy Code, the trust said it needed to obtain documents and records from Jeri Shapiro, the wife of Robert Shapiro, to determine if she . A Liquidation Trust that is being set up in the Woodbridge Chapter 11 bankruptcy case will be responsible for satisfying the disgorgement order. (Robinson, Colin), Order Requiring Omnibus Status Report Addressing Each Pending Adversary Proceeding Signed on 4/13/2021 (MD), Order of Reassignment of Judge. 33132, Telephone: (305) 961-9001 Shapiro and Woodbridge used at least $328 million to repay principal and interest . Law360 takes your privacy seriously. The SEC said that the reality was that most of these supposed third-party borrowers were, in fact, companies that Shapiro owned. On August 7, 2019 Robert H. Shapiro, the former CEO of the Woodbridge Group of Companies, pled guilty and admitted in Miami federal . Filed by Epiq Class Action & Claims Solutions, Inc.. (related document(s)[, Affidavit/Declaration of Service re: Liquidation Trusts Status Report for May 19, 2021 Status Conference. (Koonin, Russell) (Entered: 01/04/2018) . : 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 . Notice of Agenda of Matters not going forward. Woodbridge Liquidation Trust Attn: Michael Goldberg, Liquidation Trustee c/o Akerman, LLP 350 East Las Olas Boulevard, Suite 1600 . Former Woodbridge CEO Shapiro pleads guilty, faces up to 25 years in We are no longer accepting comments on this article. [Bloomberg] Natalie Hoberman. Securities and Exchange Commission v. Shapiro et al - UniCourt 1:02. CtMercer Vine''), Riverdale Funding, Former Woodbridge CEO Robert Shapiro agrees to pay $120M in penalties 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. Woodbridge Group of Companies, LLC Court Orders $1 Billion Judgment Against Operators of Woodbridge Ponzi How an investing trick can protect your family's nest egg but you must be careful how you do it, Will the crackdown on holiday lettings wreck your returns? Woodbridge CEO Robert Shapiro sentenced to 25 years in Ponzi scheme. Public Affairs Officer 371. 145 0 obj <>/Filter/FlateDecode/ID[<48D2A42A9200924AAEB355A705480277>]/Index[128 46]/Info 127 0 R/Length 88/Prev 136995/Root 129 0 R/Size 174/Type/XRef/W[1 3 1]>>stream Of that, Shapiro misappropriated approximately $25 million to $95 million in investor money for himself and for the benefit of his immediate family members. Bradford Sandler, Esq. The SEC announced an investigation of Woodbridge in early December, alleging that Woodbridge sold unregistered securities. In January 2019, The SEC announced that a federal court in Florida ordered Woodbridge Group of Companies LLC and Shapiro to pay $1 billion in penalties and disgorgement for operating a Ponzi scheme that targeted retail investors. : 139], United States v. Robert Shapiro - PAPERLESS Minute Entry for proceedings held before Judge Cecilia M. Altonaga: Change of Plea Hearing as to Robert Shapiro held on 8/7/2019. Farm Heroes Saga, the #4 Game on iTunes. Woodbridge Trust Seeks Documents From Shapiro's Wife 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! Ponzi Fraud Lawyers The scheme also involved misrepresentations to financial planners who helped Woodbridge to sell investments to potential investors. 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. Former Woodbridge CEO Shapiro pleads guilty, faces up to 25 years in Pachulski Stang Ziehl & Jones LLP, Counsel to Woodbridge Liquidation Trust Robert Shapiro, pictured with his wife Jeri, are said to have enjoyed a luxury lifestyle before his company wereto pay $1 BILLION accused of defrauding up to 8,400 people, The couple appeared to enjoy mixing in celebrity circles. In some instances, Shapiro made these fraudulent interest payments even when the advertised investment properties were never acquired. Shapiro and other defendants will be held accountable and required to pay substantial penalties for their misconduct. hbbd```b`` "H9 *LV$^>0LnAQ 2 Hml %30V?0 Q] 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? An official website of the United States government. 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. A restitution hearing is scheduled for 1/17/20. CEO Sentenced to 25 Years for Leading $1.3 Billion Real Estate Ponzi 2 0 obj Robert Shapiro, a former Roaring Fork Valley resident and former CEO and president of the Woodbridge Group of Companies LLC, faces as many as 25 years in prison after pleading guilty last week to running a $1.3 billion Ponzi scheme that claimed more than 7,000 victims. The comments below have not been moderated. 128 0 obj <> endobj As its sole owner and chief operator, Shapiro compartmentalized Woodbridge operations to restrict access to information concerning Woodbridges finances. We also resolved all related SEC charges against Ms. Shapiro with no finding or . According to the Superseding Information and Superseding Indictment, at least 2,600 of these investor victims invested their retirement savings, totaling approximately $400 million. . Suite 1800 Law360 provides the intelligence you need to remain an expert and beat the competition. Florida judge orders company to pay $1 BILLION for 'defrauding 8,400 The Commission also cited Shapiro for intentionally arranging for the manipulation of search engine results to hide certain state regulatory orders filed against Woodbridge, and for continuing to sell millions of dollars worth of Woodbridge products to residents of states that had already issued cease-and-desist orders. 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! Jeri Shapiro, 3X A Charm, LLC, Carbondale Basalt Owners, LLC, Davanna Sherman Oaks Owners, LLC, In Trend Staging, LLC, Midland Loop Enterprises, LLC, Schwartz Media Buying Company, LLC, Stover Real Estate . 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. Here's the link to this latest SEC filing. % A locked padlock Have a question about Government Services? Woodbridge Trust Seeks Documents From Shapiro's Wife Filed by Epiq Corporate Restructuring, LLC. Thus, neither Roseman nor Acevedo had direct knowledge that Shapiro was operating a Ponzi scheme by using new Woodbridge investor money to pay prior investors. He would then use new investments to pay off older ones. Jeri Shapiro (Shapiro's wife), Woodbridge Realty of Colorado, LLC d/b/a Woodbridge Realty Unlimited; Woodbridge . MIDAS SHARE TIPS: We still needoil - so tap in to the search for profitsby the barrel withJersey Oil & Gas, MIDAS SHARE TIPS: Focus on cleaner fossil fuel in Africa with Afentra - the firm backing an 'African energy transition', INVESCO MONTHLY INCOME PLUS: 'Income engine' powers 2bn bond fund to 6% a year, Will millennials change the investment landscape? If you do not have Adobe Acrobat, please click here to download the free Adobe Reader. Florida judge orders company to pay $1 BILLION for 'defrauding 8,400 Here are some of the companies, aside from Woodbridge Group of Companies, that are defendants in the SECs Ponzi fraud case: Shapiro is now permanently barred from associating with brokers, investment advisers, municipal advisers, and others in the securities industry. 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. Docket (#174) Plaintiff's MOTION for Creation of Fair Fund and for Transfer of Payments to the Woodbridge Bankruptcy Estate's Liquidation Trust by Securities and Exchange Commission. Unfortunately, senior investors are a favorite target of Ponzi scammers because many of them have retirement funds and savings. Securities and Exchange Commission v. Shapiro et al, 1:17-cv-24624 (S.D
