Pachulski Stang Ziehl & Jones LLP, Counsel to Woodbridge Liquidation Trust 91.ih]?b_D&B?@,~L+ tC0Lsp=Ik"n" QCn4dry.~s#F61Fq(%RDQaQ(KTaT]T&4k!sy9m^h65o4o1?l~||?31&;3.6fn5:fk'[HHZ4| _"#3 H!O*c-H/Q"A-n.)yk 173 0 obj <>stream They claimed the companies falsely lured investors by advertising high returns on loans supposedly made to commercial property owners. 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. The SEC also charged 18 sales agents. CEO Sentenced to 25 Years for Leading $1.3 Billion Real Estate Ponzi Scheme. 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. U.S. Attorney's Office, Southern District of Florida, Two Remaining Defendants of $1.3 Billion Investment Fraud (Ponzi) Scheme One of the Largest Ever Charged in South Florida Plead Guilty to Mail and Wire Fraud Conspiracy, Foreign National Sentenced for Using Stolen Identity During COVID-19 Relief Prosecution, Two South Florida Residents Indicted for Stealing Millions in COVID-19 Relief Funds, Palm Beach Resident Headed to Federal Prison for Defrauding Cystic Fibrosis Nonprofit. Jeri was pictured with her friend and TV judge Jeanine Pirro in 2016. right. 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. 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. (related document(s)[, Status Report Liquidation Trust's Status Report for May 19, 2021 Status Conference Filed by Michael Goldberg. Colorado and Idaho regulators also initiated investigations of Woodbridge. Miami, Fl. (Attachments: # (1) Exhibit A # (2) Affidavit of Counsel in Support # (3) Exhibit 1 to Affidavit of Counsel # (4) Certificate of Service) (Robinson, Colin). 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. Bradford Sandler, Esq. 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. DOCS_LA:323463.1 94811/003 2 require Jeri Shapiro to forfeit all of her assets and bank accounts that the government has Unbeknownst to investors, Shapiro created and controlled a network of more than 270 limited liability companies, which he used to acquire and sell the properties pitched to investors. ', '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. (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). Robert Shapiro of the bankrupt Woodbridge Group used to live at Aspen Glen, where his company also had numerous real estate holdings. (Robinson, Colin), Order Requiring Omnibus Status Report Addressing Each Pending Adversary Proceeding Signed on 4/13/2021 (MD), Order of Reassignment of Judge. 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? #167.2 - Filed 10/13/2019: Exhibit 2-art related tracing, - PacerMonitor Mobile Federal and Bankruptcy Court PACER Dockets Law360 provides the intelligence you need to remain an expert and beat the competition. Shapiro, Roseman, and Acevedo falsely claimed that Woodbridge was profitable and advertised high rates of return to investors. 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. 4th Street 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.'. Robert Shapiro sentenced to imprisonment for a term of 300 months, supervised release for 3 years, $200 special assessment, restitution and forfeiture. 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"). Between 2015 and 2017 he served as the sales manager of Woodbridge. The money will be used to compensate the victims of the Ponzi scheme. The real estate developer was accused of running a $1.2B massive fraud operation. Filed by Epiq Class Action & Claims Solutions, Inc.. (related document(s)[, Amended Notice of Agenda of Matters Scheduled for Hearing Filed by Liquidation Trust. 17-12560-KJC, #2 . 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. Share sensitive information only on official, secure websites. Jeri Shapiro - $149,400 in Political Contributions for 2016 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. Prevailing Eastern TimeGeneral Bar Date, Affidavit/Declaration of Service re: Stipulation of Dismissal of Adversary Proceeding without Prejudice Solely as to Defendant Jeri Shapiro. He thanked the SEC Miami Regional Office and the U.S. Attorneys Office for the Central District of California for their assistance. 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. Jeri Shapiro waiver sent on 12/22/2017, answer due 2/20/2018. 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. 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. We serve the following localities: Atlanta, Baltimore, Boston. Jeri Shapiro works at American Greetings, which is a Commercial Printing company with an estimated 1633 employees. The returns over summer for all the world's major stock markets revealed, Would you back risky AIM shares to beat inheritance tax? (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). Do not sell or share my personal information. (Admin. The Ponzi fraud fell apart after payments to investors stopped and Woodbridge filed for bankruptcy. They purportedly made no income and did not pay interest on any of these supposed loans. Reports and Letters by the Liquidation Trustee Colin Robinson, Esq. Robert Shapiro, left with his wife Jeri, owned The Woodbridge Group of Companies. 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. Please see our Privacy Policy. 0:00. 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. 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. 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 . 919 North Market Street17th Floor %PDF-1.5 NEWS. This case is being prosecuted by Assistant U.S. Attorney Roger Cruz. 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. Fax Line: (305) 530-7679. 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. The fraud scammed approximately 8,400 victims of retail investors, many of them elderly. Try our Advanced Search for more refined results. Roseman received approximately $2.5 million in Woodbridge money and Acevedo received approximately $1.1 million. Filed by Liquidation Trust. 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 . Florida judge orders company to pay $1 BILLION for 'defrauding 8,400 Shapiro would promise investors high returns on their investments, specifically luxury spec homes, only to then channel their money into several different entities he controlled. hbbd```b`` "H9 *LV$^>0LnAQ 2 Hml %30V?0 Q] The contact form sends information by non-encrypted email, which is not secure. . Jeri Shapiro. 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. Official websites use .gov The docket is currently displayed in reverse chronological order. The agreement will also . Public Affairs Officer To make up for the cash deficiency, Shapiro resorted to making Ponzi payments, i.e., hundreds of millions of dollars invested by new investors were used to pay returns to older, existing Woodbridge investors. : 143], United States v. Robert Shapiro - PAPERLESS Notice of Sentencing Hearing as to Robert Shapiro set for 10/15/19 @ 8:30 a.m. [ECF No. An example of one of these salespersons is former Royal Alliance Associates broker Frank John Capuano (CRD #844182), whom FINRA sanctioned for offering and selling $1.1 million in allegedly unregistered Woodbridge notes to nine Royal Alliance customers, receiving over $34,000 in commissions for these transactions. 2903, DE Bankruptcy Case No. ) or https:// means youve safely connected to the .gov website. 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. Call or email SSSEK Law Firm today if you were an investor that lost money in the Woodbridge Ponzi scam. PDF UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF FLORIDA Case No. 17 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. RS Protection Trust. A .gov website belongs to an official government organization in the United States. Receipt Number 9551150, amount $ 350.00. The Honorable Judge Marcia G. Cooke of the U.S. District Court for the Southern District of Florida approved judgments against . Southern District of Florida | Owner of Woodbridge Group and Two Former Jeri Shapiro. At least 2,600 of these investor victims invested their retirement savings, totaling approximately $400 million. Court Docket If you invested with any broker, financial adviser, or firm in the SEC-alleged fraudulent Woodbridge Group of Companies, including Woodbridge Mortgage Investment Fund products or other Woodbridge promissory notes or private placements, and these transactions have proven harmful when the Fund failed to meet its scheduled payment obligations, please call The Law Offices of Jonathan W. Evans & Associates at (800) 699-1881 for an investigation and consultation. In the legal profession, information is the key to success. Shepherd Smith Edwards and Kantas, LLP (SSEK Law Firm) works with investors that have lost money because they fell victim to a Ponzi scam. Former Woodbridge CEO Shapiro pleads guilty, faces up to 25 years in x|i@W=y$ ! 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. Liquidation Trustee's Status Letter to Beneficiaries, United States v. Robert Shapiro - Jeri L. Shapiro's Consent to Forfeiture ECF No. The property, first listed for $180 million, dropped to $115 million in September. FB He also spent at least $21 million of investor money on private jets, luxury country clubs, plus other extravagances, the SEC claims. A self-described high-end real estate firm, Woodbridge sold notes in various Woodbridge Investment Funds and Woodbridge Commercial Bridge Loan Funds, which many customers paid for using funds from their Individual Retirement Accounts (IRA). 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. 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? 'I will pursue any valid claims I have and will comply with all proper rulings of the bankruptcy court. 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. However, Shapiros real estate portfolio failed to generate sufficient cash flow to satisfy the loan obligations and interest payments owed to investors. HEARING CANCELLED. He did not admit nor deny the allegations. Please do not include any confidential or sensitive information in a contact form, text message, or voicemail. Michael Goldberg, Liquidation Trustee CtMercer Vine''), Riverdale Funding, <>stream A restitution hearing is scheduled for 1/17/20. . 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. Petersburg, and Washington, D.C. Shapiro and Woodbridge used at least $328 million to repay principal and interest . 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. Prior to SEC involvement, states had already begun to uncover the true fraudulent nature of Robert H Shapiro's Woodbridge Group of Companies. 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. 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? Former Woodbridge CEO Shapiro pleads guilty, faces up to 25 years in It is alleged up to 8,400 retail investors were defrauded by Boca Raton-based Woodbridge, which filed for bankruptcy in 2017. (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. 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. Notice of Agenda of Matters not going forward. According to the indictment, superseding information, and court documents, Shapiro spearheaded and concealed an enormous Ponzi scheme through his business, Woodbridge. 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. [Bloomberg] Natalie Hoberman. The scheme generates returns for older investors by acquiring new investors. 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. Securities and Exchange Commission v. Shapiro, 1:17-cv-24624 Woodbridge Securities (a/k/a Woodbridge Group of Companies) was a $1.2 billion Ponzi scheme run by CEO Robert H. Shapiro. Shapiro, 61, of Sherman Oaks, California, entered his plea Wednesday in . no. 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 . Required fields are marked *. 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.
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