The defendant allegedly promised investors 5-10% in interest yearly. We also resolved all related SEC charges against Ms. Shapiro with no finding or . He thanked the SEC Miami Regional Office and the U.S. Attorneys Office for the Central District of California for their assistance. Shapiro must disgorge $18.5M in ill-gotten gains, as well as pay $2.1 in prejudgment interest and a $100M civil penalty. The contact form sends information by non-encrypted email, which is not secure. (Admin. 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 . 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. Robert Shapiro, left with his wife Jeri, owned The Woodbridge Group of Companies. 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. Jeri, who was also investigated as part of the allegations, is said to have received $3.8 million from Robert in the year before the company's bankruptcy filing, The Wall Street Journal reports. The real estate developer was accused of running a $1.2B massive fraud operation. Woodbridge Liquidation Trust Attn: Michael Goldberg, Liquidation Trustee c/o Akerman, LLP 350 East Las Olas Boulevard, Suite 1600 . {HB[4A@\@EYD@A@`q[mummuHiyt;iT'~?Nn{(B/&1]T:`!DvBZlrqBDB[iPW=dHb^B=Q[]M!c$D\TU Notice of Agenda of Matters not going forward. Robert Shapiro, his bankrupt company Woodbridge, and others face an SEC complaint on Ponzi allegations with a narrative of luxury partnerships gone awry,. At least 2,600 of these investor victims invested their retirement savings, totaling approximately $400 million. x|i@W=y$ ! Notice of Agenda of Matters not going forward. (related document(s)[, Status Report Liquidation Trust's Status Report for May 19, 2021 Status Conference Filed by Michael Goldberg. The complaint alleges she owns assets, including real estate . Jeri Shapiro, Woodbridge Realty of Colorado, Woodbridge Luxury Homes of California (dba Mercer Vine, Inc), Riverdale Funding, Schwartz Media Buying Company, and WFS Holding Co are listed as relief defendants. Woodbridge Realty of Colorado is unique in that from initial concept through to interior design and decorating, we offera full spectrum of services, freeing you up to enjoy everything else our beautiful valley has to offer. 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. 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. Shapiro, 61, of Sherman Oaks, California, entered his plea Wednesday in . As its sole owner and chief operator, Shapiro compartmentalized Woodbridge operations to restrict access to information concerning Woodbridges finances. Woodbridge Commerical Bridge Loan Fund 2, LLC. Responses due by 2/3/2022. Fax Line: (305) 530-7679. 'Mr. Farm Heroes Saga, the #4 Game on iTunes. HEARING CANCELLED. 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. 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. (Robinson, Colin), Affidavit/Declaration of Service re: Entry of Default. ABC news anchor Mr. Stephanopoulos told The Wall Street Journal: 'Like many others, I was a victim of Woodbridge and now must deal with the consequences of its bankruptcy. %PDF-1.5 Owners face tougher rules amid fears that boom is harming local areas, Broadcaster Sky reportedly lining up hundreds of job cuts as it grapples with shift to streaming, JP Morgan to snap up most of First Republic Bank after the lender was seized by US regulators, HSBC set for showdown with Chinese investors: Bosses in key AGM confrontation over future of bank as largest shareholder demands break-up, Chip designer Arm registers for US stock market listing - set to be this year's biggest, The idea that Britain has become a benighted backwater is a falsehood that can only serve predatory overseas raiders, says RUTH SUNDERLAND, John Lewis halving size of its HQ after thousands of employees switch to working from home. In the legal profession, information is the key to success. 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 . A Liquidation Trust that is being set up in the Woodbridge Chapter 11 bankruptcy case will be responsible for satisfying the disgorgement order. 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. 0:00. 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. Jeri was pictured with her friend and TV judge Jeanine Pirro in 2016. right. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply. 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. >Lbbn?\#3vpksKO"wP1ip//<3s|O~a. Michigan regulators in 2017 issued Woodbridge Investment Fund 4 a cease and desist notice, similar to previous actions taken by regulators in Massachusetts, Texas, and Arizona. June 19, 2018 at 5:00 P.M. For instance, after failing to make its regularly scheduled one-year Notes payment on December 1, 2017 and filing for bankruptcy protection shortly thereafter, the Woodbridge Group of Companies sent a letter to investors claiming that its bankruptcy is a strategic effort to "establish a stronger financial platform." Colin Robinson, Esq. A locked padlock 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. Federal authorities alleged that Woodbridge defrauded thousands of investors in an $3 billion dollar Ponzi scheme that marketed real . %%EOF Submitting a contact form, sending a text message, making a phone call, or leaving a voicemail does not create an attorney-client relationship. He resigned from his role as CEO that December, and the company filed for Chapter 11 bankruptcy. In fact, you dont even need to live here as we have it all covered. (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. 173 0 obj <>stream (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. Fort Lauderdale, FL 33301 This case is being prosecuted by Assistant U.S. Attorney Roger Cruz. 1:02. And at minimum, investors were made to believe that Woodbridges real estate dealings would generate the funds used to pay the return on their investments. Judge Marcia G. Cooke ordered Woodbridge and its 281 related companies to pay $892 million in disgorgement. 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. 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! Required fields are marked *. Suite 1800 Main Office: Share sensitive information only on official, secure websites. USAFLS.News@usdoj.gov, Southern District of Florida Do not sell or share my personal information. Woodbridge Luxury Homes of California, Inc. served on 12/28/2017, answer due 1/18/2018. Pachulski Stang Ziehl & Jones LLP, Counsel to Woodbridge Liquidation Trust no. The scheme generates returns for older investors by acquiring new investors. 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. To display the docket in chronological order, They used to work at Woodbridge Pre-Settlement Funding. 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. 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. 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. 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. Prior to SEC involvement, states had already begun to uncover the true fraudulent nature of Robert H Shapiro's Woodbridge Group of Companies. It is alleged up to 8,400 retail investors were defrauded by Boca Raton-based Woodbridge, which filed for bankruptcy in 2017. (U.S. Treasury), Adversary case 19-51076. 19-01100 (mew) decision concerning debtor's place of residence . (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). CtMercer Vine''), Riverdale Funding, 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. The views expressed in the contents above are those of our users and do not necessarily reflect the views of MailOnline. Of this $1B, Woodbridge and its 281 related companies must pay $892M in disgorgement. The scheme also involved misrepresentations to financial planners who helped Woodbridge to sell investments to potential investors. DOCS_LA:323463.1 94811/003 2 require Jeri Shapiro to forfeit all of her assets and bank accounts that the government has 2019 Ted Fund Donors He also is banned from taking part in any penny stock offerings. 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. -----x adv. Robert Shapiro sentenced to imprisonment for a term of 300 months, supervised release for 3 years, $200 special assessment, restitution and forfeiture. The fraud scammed approximately 8,400 victims of retail investors, many of them elderly. [Bloomberg] Natalie Hoberman. 4th Street The SEC has ordered her to disgorge almost $1.4M and pay nearly $165K of prejudgment interest. . 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"). 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. 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. Hearing scheduled for 2/8/2022 at 10:30 AM at US Bankruptcy Court, 824 Market St., 3rd Fl., Courtroom #7, Wilmington, Delaware. 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? Shapiro's wife, Jeri, who was VP at Woodbridge for several years, has also been named as a relief defendant in the lawsuit. % (related document(s)[15]) Notice Date 06/26/2020. Co-defendant Robert Shapiro, the former owner, president, and CEO of Woodbridge Group of Companies LLC (Woodbridge) was previously sentenced to the maximum sentence of 25 years in prison for his leadership role in the fraud scheme and his separate income tax fraud. 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. Shapiro is also banned from any association with any broker, dealer, investment adviser, ratings firm or other financial entity. 'I will pursue any valid claims I have and will comply with all proper rulings of the bankruptcy court. Password (at least 8 characters required). Official websites use .gov The SEC complaint alleges that Woodbridge and Shapiro's network of both in-house and external agents falsely sold Woodbridge investments as "low risk," "simpler," "safe," and "secure," employing misleading marketing materials that falsely portrayed the nature of Woodbridge, when in fact Shapiro was actively making Ponzi payments to investors, paying significant sales commissions to unregistered sales agents in exchange for selling Woodbridge to the public, and misappropriating investor funds for his own personal use. (Robinson, Colin), Order Requiring Omnibus Status Report Addressing Each Pending Adversary Proceeding Signed on 4/13/2021 (MD), Order of Reassignment of Judge. Fee Amount $350 (13 (Recovery of money/property - 548 fraudulent transfer)),(14 (Recovery of money/property - other)). 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. Robert Shapiro was accused of fleecing 9,000 investors with a promise of profits on real estate loans, and . Robert Shapiro, left with his wife Jeri, owned The Woodbridge Group of Companies. 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. Woodbridge Realty of Colorado Hosts the 2015 New Years Eve Party at Aspen Glen. Wife Jeri, left, pictured here with TV judgeJeanine Pirro in 2016, Shapiro is said to have enjoyed a luxury lifestyle of chartered planes, country-club fees, Porsche cars and jewelry and even played gold with actor Scott Baio. 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 . Your email address will not be published. Please see our Privacy Policy. CEO Sentenced to 25 Years for Leading $1.3 Billion Real Estate Ponzi Scheme. 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. 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. 371. Unfortunately, senior investors are a favorite target of Ponzi scammers because many of them have retirement funds and savings. Acevedo started working for Woodbridge as a sales agent in or around 2009, and in 2013 to December 2014 he served as the sales manager of Woodbridge. 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. The property, first listed for $180 million, dropped to $115 million in September.
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