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. 144 Woodbridge-Affiliated Property Limited Liability Companies 131 Woodbridge-Affiliated Holding Limited Liability Companies Jeri Shapiro Woodbridge Realty of Colorado, LLC Woodbridge Luxury Homes of California, Inc. Riverdale Funding, LLC Schwartz Media Buying Company, LLC WFS Holding Co. , LLC . Please do not include any confidential or sensitive information in a contact form, text message, or voicemail. Responses due by 2/3/2022. >Lbbn?\#3vpksKO"wP1ip//<3s|O~a. They claimed the companies falsely lured investors by advertising high returns on loans supposedly made to commercial property owners. (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. Woodbridge Realty of Colorado Throws THE Party of The Year! Jeri Shapiro, Shapiro's wife, was named as a relief defendant in the suit for her role serving as a vice president at Woodbridge since about 2012, and also for being in possession of real property . endstream endobj 129 0 obj <>/Metadata 19 0 R/Pages 126 0 R/StructTreeRoot 26 0 R/Type/Catalog/ViewerPreferences 146 0 R>> endobj 130 0 obj <>/MediaBox[0 0 612 792]/Parent 126 0 R/Resources<>/Font<>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI]>>/Rotate 0/StructParents 0/Tabs/S/Type/Page>> endobj 131 0 obj <>stream 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. 173 0 obj <>stream 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 The owner of a company accused of defrauding over 50 Treasure Coast residents in a nationwide Ponzi scheme was sentenced to 25 years in prison Tuesday. hb```),@(qYPa i cP %~Vz(5=::$`h Blb9@s@4%#7#C$Ccc2-5D:7400.;]I" k, Prior to SEC involvement, states had already begun to uncover the true fraudulent nature of Robert H Shapiro's Woodbridge Group of Companies. The most notable was the Owlwood Estate, a 10-acre mansion in Holmby Hills once owned by Sonny Bono and Cher. 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. 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"). Shepherd Smith Edwards and Kantas, LLP (SSEK Law Firm) works with investors that have lost money because they fell victim to a Ponzi scam. A restitution hearing is scheduled for 1/17/20. 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., : 140], United States v. Robert Shapiro - Plea Agreement [ECF No. ), Request for Entry of Default Filed by Woodbridge Liquidation Trust. Robert Shapiro - Jeri L. Shapiro's Consent to Forfeiture ECF No. Jeri Shapiro waiver sent on 12/22/2017, answer due 2/20/2018. As its sole owner and chief operator, Shapiro compartmentalized Woodbridge operations to restrict access to information concerning Woodbridges finances. Here's the link to this latest SEC filing. The SEC sued Shapiro in December 2017, accusing him of misleading investors. %PDF-1.7 % Woodbridge Luxury Homes of California, Inc. served on 12/28/2017, answer due 1/18/2018. 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. In total, Shapiro and his co-conspirators convinced more than approximately 9,000 investors to invest more than $1.29 billion to Woodbridge. The fraud scammed approximately 8,400 victims of retail investors, many of them elderly. hWm8+AVkRwuOB|`.@4KsV. Hearing scheduled for 5/19/2021 at 09:00 AM at US Bankruptcy Court, 824 Market St., 3rd Fl., Courtroom #7, Wilmington, Delaware. Revelers at Aspen Glen, New Years Eve 2015. 0:00. Filed by Epiq Class Action & Claims Solutions, Inc.. (related document(s)[39]) (Gallerie, Bridget), Affidavit/Declaration of Service re: Amended 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. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Enter your email address to follow this blog and receive notifications of new posts by email. Woodbridge Liquidation Trust v. Shapiro et al Woodbridge Securities (a/k/a Woodbridge Group of Companies) was a $1.2 billion Ponzi scheme run by CEO Robert H. Shapiro. The contact form sends information by non-encrypted email, which is not secure. 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!' 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? Farm Heroes Saga, the #4 Game on iTunes. 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 . 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 . Call or email SSSEK Law Firm today if you were an investor that lost money in the Woodbridge Ponzi scam. You have to know whats happening with clients, competitors, practice areas, and industries. The property, first listed for $180 million, dropped to $115 million in September. Lock 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." . ) or https:// means youve safely connected to the .gov website. Using high-pressure sales tactics, Shapiro, Roseman, Acevedo, and others marketed and promoted these investments as low-risk, safe, simple, and conservative. Colorado and Idaho regulators also initiated investigations of Woodbridge. Court records show other family members, including a nephew, an uncle and a stepson also profited. 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. 128 0 obj <> endobj Of that, Shapiro misappropriated approximately $25 million to $95 million in investor money for himself and for the benefit of his immediate family members. 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. The regulator accused Woodbridge of using investors funds to pay other investors, as well as $64.5M in sales commissions to agents that had touted the Woodbridge investments as conservative and low risk. Shapiro is accused of using at least $21M of investor funds to support his lavish lifestyle. The Woodbridge Group of Companies and its former owner Robert Shapiro were ordered to pay the money to investors as well as civil fines and interest, The Securities and Exchange Commission (SEC) said. Shapiro is also banned from any association with any broker, dealer, investment adviser, ratings firm or other financial entity. The complaint alleges she owns assets, including real estate . 919 North Market Street17th Floor According to the Superseding Information and Superseding Indictment, at least 2,600 of these investor victims invested their retirement savings, totaling approximately $400 million. 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 agreement will also . 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. Notice of Agenda of Matters not going forward. . They used to work at Woodbridge Pre-Settlement Funding. Thanks to the kind generosity of Bob and Jeri Shapiro, New Years Eve 2015 at Aspen Glen will remaina night to remember! 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. Already a subscriber? Miami, Fl. 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! 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. (Robinson, Colin), Affidavit/Declaration of Service RE: [HEARING CANCELLED] Notice of Agenda of Matters Scheduled for Hearing on April 22, 2020 at 10:30 A.M. (Prevailing Eastern Time) (related document(s)[6]) Filed by Epiq Class Action & Claims Solutions, Inc.. (Gallerie, Bridget), Affidavit/Declaration of Service RE: [CANCELLED HEARING] Notice of Agenda of Matters Scheduled for Hearing on March 18, 2020 at 11:00 a.m. (Prevailing Eastern Time) (related document(s)[5]) Filed by Epiq Class Action & Claims Solutions, Inc.. (Staal, Lorri). 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. Ted's Bio; Fact Sheet; Hoja Informativa Del Ted Fund; Ted Fund Board 2021-22; 2021 Ted Fund Donors; Ted Fund Donors Over the Years. In a statement he said: 'He is happy to have put this behind him to allow all remaining resources to be focused on obtaining maximum recovery for the benefit of the Woodbridge estate.'. However, Shapiros real estate portfolio failed to generate sufficient cash flow to satisfy the loan obligations and interest payments owed to investors. 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. the judgment amounts to $892 million due to the SEC from numerous Shapiro-controlled entities as well as Shapiro's wife, Jeri, who is on the hook for $1.6 . 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 $2.1 million in prejudgment interest. If you do not have Adobe Acrobat, please click here to download the free Adobe Reader. Liquidation Trustee's Status Letter to Beneficiaries, United States v. Robert Shapiro - Jeri L. Shapiro's Consent to Forfeiture ECF No. Woodbridge falsely claimed that these investments were tied to real property owned by third parties and that the third parties would be making the interest payments to Woodbridge and its investors; it was portrayed as an investment in a hard-money lending business. Woodbridge Mortgage Investment Fund 2, LLC. He would then use new investments to pay off older ones. Amended HEARING CANCELLED. Fax Line: (305) 530-7679. Relief defendants Jeri Shapiro (Shapiro's wife), Woodbridge Realty of Colorado, LLC d/b/a Woodbridge Realty Unlimited CtWoodbridge Realty''), Woodbridge Luxury Homes of California, Inc. d/b/a Mercer Vine, lnc. In addition to Shapiro and Woodbridge Group of Companies, LLC, the SEC named RS Protection Trust, WMF Management, Woodbridge Structured Funding, Woodbridge Mortgage Investment Fund (1, 2, 3, 3A, and 4), Woodbridge Commercial Bridge Loan Fund (1 and 2), and over 275 additional Woodbridge-affiliated LLCs as defendants. Neither Roseman nor Acevedo had access to or knowledge of Woodbridges finances and were unaware that Shapiro was using new investor money to pay prior investors. ), Create custom alerts for specific article and case topics and, I took a free trial but didn't get a verification email. Ushering in the New Year in Style Thanks to the kind generosity of Bob and Jeri Shapiro, New Year's Eve 2015 at Aspen Glen will remain a night to remember! x|i@W=y$ ! It is alleged up to 8,400 retail investors were defrauded by Boca Raton-based Woodbridge, which filed for bankruptcy in 2017. The money will be used to compensate the victims of the Ponzi scheme. On August 7, 2019 Robert H. Shapiro, the former CEO of the Woodbridge Group of Companies, pled guilty and admitted in Miami federal . }l,%~yK.e]Jr)R%KKds/X_ rc/ p^.HdsW'mS. Jeri Shapiro (Shapiro's wife), Woodbridge Realty of Colorado, LLC d/b/a Woodbridge Realty Unlimited; Woodbridge . At least 2,600 of these investor victims invested their retirement savings, totaling approximately $400 million. 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. Receipt Number 9551150, amount $ 350.00. Read the SECs Final Judgment in the Woodbridge Case. FB The scheme generates returns for older investors by acquiring new investors. The views expressed in the contents above are those of our users and do not necessarily reflect the views of MailOnline. 371. Assistant U.S. Attorney Sara Klco is handling the asset forfeiture component of the case. Woodbridge Liquidation Trust - 2022 Grantor Letter : 06/16/2022 : PRESS RELEASE - Woodbridge Liquidation Trust Announces Cash Distribution . 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. Robert Shapiro, left with his wife Jeri, owned The Woodbridge Group of Companies. Fee Amount $350 (13 (Recovery of money/property - 548 fraudulent transfer)),(14 (Recovery of money/property - other)). The scheme also involved misrepresentations to financial planners who helped Woodbridge to sell investments to potential investors. Robert Shapiro, left with his wife Jeri, owned The Woodbridge Group of Companies. Our Woodbridge fraud attorneys can help you explore your legal options. 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. 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 . 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. 141], United States v. Robert Shapiro - Stipulated Factual Proffer [ECF No. According to the indictment, superseding information, and court documents, Shapiro spearheaded and concealed an enormous Ponzi scheme through his business, Woodbridge. Miami, Florida 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. Jeri Shapiro works at American Greetings, which is a Commercial Printing company with an estimated 1633 employees. Public Affairs Officer 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. Ponzi Fraud Lawyers endstream endobj startxref Other victims are said to have included a widow, 89, in a memory care facility in Tennessee. Prior to SEC involvement, states had already begun to uncover the true fraudulent nature of Robert H Shapiro's Woodbridge Group of Companies. Required fields are marked *. In some instances, Shapiro made these fraudulent interest payments even when the advertised investment properties were never acquired. 'The settlement provides for the return of significant funds to investors.'. %%EOF USAFLS.News@usdoj.gov, Southern District of Florida Shapiro, Roseman, and Acevedo falsely claimed that Woodbridge was profitable and advertised high rates of return to investors. Roseman received approximately $2.5 million in Woodbridge money and Acevedo received approximately $1.1 million. Woodbridge Financial: Representation of Jeri Shapiro, . Shapiro and other defendants will be held accountable and required to pay substantial penalties for their misconduct. Robert Shapiro of the bankrupt Woodbridge Group used to live at Aspen Glen, where his company also had numerous real estate holdings. The judgment was against Woodbridge and its 281 related companies, ordering them to pay $892 million in disgorgement 2 0 obj Jeri Shapiro. Judge Janet Kathleen Stickles added to case. Play it now! Objections due by 2/3/2022. Unfortunately, senior investors are a favorite target of Ponzi scammers because many of them have retirement funds and savings. 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. Of this $1B, Woodbridge and its 281 related companies must pay $892M in disgorgement. 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. : 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. 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. MNR secured a binding non-prosecution agreement for Ms. Shapiro. 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 . pro. 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