Federal authorities alleged that Woodbridge defrauded thousands of investors in an $3 billion dollar Ponzi scheme that marketed real . Robert Shapiro, 61, the owner of the Woodbridge Group of Cos., and two other former company executives were accused of conspiracy to commit mail and wire fraud and other violations of federal law . Please see our Privacy Policy. 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 . Colin Robinson, Esq. The defendant allegedly promised investors 5-10% in interest yearly. 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? It is similar to a pyramid scheme in that both are based on using new investors' funds to pay the earlier backers. Jeri Shapiro Email & Phone Number - American Gr.. | ZoomInfo He resigned from his role as CEO that December, and the company filed for Chapter 11 bankruptcy. A lock ( Amended 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. 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 . CtMercer Vine''), Riverdale Funding, SHAPIRO, JERI SHERMAN OAKS, CA 91423: Woodbridge Structured Funding Llc/Executive: $5,000: 03/18/2015: P: RUBIO VICTORY COMMITTEE - Republican: Search: The most notable was the Owlwood Estate, a 10-acre mansion in Holmby Hills once owned by Sonny Bono and Cher. Pachulski Stang Ziehl & Jones LLP, Counsel to Woodbridge Liquidation Trust Woodbridge Liquidation Trust Attn: Michael Goldberg, Liquidation Trustee c/o Akerman, LLP 350 East Las Olas Boulevard, Suite 1600 . Robert Shapiro was accused of fleecing 9,000 investors with a promise of profits on real estate loans, and . 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. Woodbridge and Its Ex-Owner Must Pay $1B Over Alleged Ponzi Scam Securities and Exchange Commission v. Shapiro et al - UniCourt 33132, Telephone: (305) 961-9001 RS Protection Trust. Roseman received approximately $2.5 million in Woodbridge money and Acevedo received approximately $1.1 million. As its sole owner and chief operator, Shapiro compartmentalized Woodbridge operations to restrict access to information concerning Woodbridges finances. White Collar Criminal Defense - MNR Law Firm 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. Colorado and Idaho regulators also initiated investigations of Woodbridge. 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. Home; About. 128 0 obj <> endobj 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. 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. 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. The SEC announced an investigation of Woodbridge in early December, alleging that Woodbridge sold unregistered securities. Your email address will not be published. Michael Goldberg, Liquidation Trustee Florida judge orders company to pay $1 BILLION for 'defrauding 8,400 'I will pursue any valid claims I have and will comply with all proper rulings of the bankruptcy court. You have to know whats happening with clients, competitors, practice areas, and industries. Hearing scheduled for 2/8/2022 at 10:30 AM at US Bankruptcy Court, 824 Market St., 3rd Fl., Courtroom #7, Wilmington, Delaware. She was pictured with her friend and TV judge Jeanine Pirro in 2016. 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. Direct or indirect sales of unregistered securities is a violation of industry regulations, meaning a registered broker, financial adviser, or firm who has sold such securities may be liable for damages that result from associated transactions. 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. Former Woodbridge CEO Shapiro pleads guilty, faces up to 25 years in Other relief defendants in the case also settled without denying or admitting to the SECs allegations. Shapiro is also banned from any association with any broker, dealer, investment adviser, ratings firm or other financial entity. 1:02. Jeri Shapiro (Shapiro's wife), Woodbridge Realty of Colorado, LLC d/b/a Woodbridge Realty Unlimited; Woodbridge . Prior to SEC involvement, states had already begun to uncover the true fraudulent nature of Robert H Shapiro's Woodbridge Group of Companies. 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. Case No. Shapiro and other defendants will be held accountable and required to pay substantial penalties for their misconduct. Former Woodbridge CEO Shapiro pleads guilty, faces up to 25 years in A Ponzi scheme is a fraudulent investing scam promising high with little risk to investors. By Lauren Fruen For Dailymail.com and Associated Press, Published: 15:59 EDT, 28 January 2019 | Updated: 17:38 EDT, 29 January 2019. An official website of the United States government. The SEC complaint alleges that Shapiro and Woodbridge used investors' money to pay other investors, and paid $64.5 million in commissions to sales agents who pitched the investments as "low risk" and "conservative." . 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. Partygoers were all in agreement that this was undoubtedly theevent of the year and many were already anticipating how much fun New Years Eve 2016 was going to be! Involvement of Judge Brendan Linehan Shannon Terminated (SH), Notice of Withdrawal of Plaintiff's Request for Entry of Default (related document(s)[, Affidavit/Declaration of Service Re: Notice of Agenda and Amended Agenda of Matters Scheduled for Telephonic Hearing on June 24, 2020 at 9:00 A.M. (Prevailing Eastern Time). This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply. 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. Marcus Neiman Rashbaum & Pineiro LLP - Chambers and Partners Woodbridge Securities - Wikipedia The following documents are in PDF format. ), Create custom alerts for specific article and case topics and, I took a free trial but didn't get a verification email. Please see our Privacy Policy. L.A. developer of celebrity real estate arrested in alleged $1.3 Woodbridge Mortgage Investment Fund 2, LLC. Adobe Reader is required to view the PDFs. They claimed the companies falsely lured investors by advertising high returns on loans supposedly made to commercial property owners. HEARING CANCELLED. 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." 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. In fact, you dont even need to live here as we have it all covered. (related document(s)[, Status Report Liquidation Trust's Status Report for May 19, 2021 Status Conference Filed by Michael Goldberg. Woodbridge Trust Seeks Documents From Shapiro's Wife MNR secured a binding non-prosecution agreement for Ms. Shapiro. 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. The SEC said that the reality was that most of these supposed third-party borrowers were, in fact, companies that Shapiro owned. hWm8+AVkRwuOB|`.@4KsV. 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. Read the SECs Final Judgment in the Woodbridge Case. Woodbridge Liquidation Trust v. Shapiro et al The SEC has ordered her to disgorge almost $1.4M and pay nearly $165K of prejudgment interest. The docket is currently displayed in reverse chronological order. Shapiro's wife, Jeri, who was VP at Woodbridge for several years, has also been named as a relief defendant in the lawsuit. SEC Charges Calif. Businessman In $1.2B Ponzi Scheme The Honorable Judge Marcia G. Cooke of the U.S. District Court for the Southern District of Florida approved judgments against . 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. The fraud scammed approximately 8,400 victims of retail investors, many of them elderly. 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. 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. Securities and Exchange Commission v. Shapiro et al 173 0 obj <>stream Call or email SSSEK Law Firm today if you were an investor that lost money in the Woodbridge Ponzi scam. 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. 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. #37.1 - Filed 09/12/2016: Appendix Joint Exhibit and Witness List Woodbridge Trust Seeks Documents From Shapiro's Wife (Attachments: #1 Exhibit A, Doc. Filed by Epiq Corporate Restructuring, LLC. A restitution hearing is scheduled for 1/17/20. please click here. Woodbridge falsely claimed that these investments were tied to real property owned by third parties and that the third parties would be making the interest payments to Woodbridge and its investors; it was portrayed as an investment in a hard-money lending business. 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. : 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. 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 ofGrammy winning composer, Paul Williams and the smoky, rockingvocals of singer-songwriter Gianna Salvato. Robert Shapiro, left with his wife Jeri, owned The Woodbridge Group of Companies. ASPEN Meat & Cheese Restaurant & Farm Shop, GLENWOOD SPRINGS Juicy Lucy's Steakhouse, Elevating Real Estate at Desert Mountain, Scottsdale, AZ. #167.2 - Filed 10/13/2019: Exhibit 2-art related tracing, - PacerMonitor Mobile Federal and Bankruptcy Court PACER Dockets Court Orders $1 Billion Judgment Against Operators of Woodbridge Ponzi Woodbridge Realty of Colorado Throws THE Party of The Year! The court ordered Shapiro, accused of using a web of shell companies to conceal the scheme, to pay a $100 million civil penalty and to disgorge $18.5 million in ill-gotten gains plus $2.1 million in prejudgment interest. Roseman started working for Woodbridge as a sales agent in or around August 2012. 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. 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. Court records show other family members, including a nephew, an uncle and a stepson also profited. Ponzi Fraud Lawyers Latest Report Filed - Lessons Learned from the Woodbridge Scam 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. 99 N.E. Fee Amount $350 (13 (Recovery of money/property - 548 fraudulent transfer)),(14 (Recovery of money/property - other)). 919 North Market Street17th Floor They purportedly made no income and did not pay interest on any of these supposed loans. % 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. Hearing scheduled for 2/8/2022 at 10:30 AM at US Bankruptcy Court, 824 Market St., 3rd Fl., Courtroom #7, Wilmington, Delaware.