Filed by Liquidation Trust. Former Woodbridge CEO Robert Shapiro agrees to pay $120M in penalties 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. : 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. According to the Superseding Information and Superseding Indictment, at least 2,600 of these investor victims invested their retirement savings, totaling approximately $400 million. . endstream endobj startxref 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.'. A .gov website belongs to an official government organization in the United States. Shapiro and his wife, Jeri, agreed to forfeit assets including paintings by Picasso ("Face With Circles, Picador and Fish Subject"), Renoir ("Portrait de Rosita Mauri"), Chagall ("Le Clown Flutiste . They used to work at Woodbridge Pre-Settlement Funding. Jeri Shapiro Email & Phone Number - American Gr.. | ZoomInfo In March 2021, the Trust received certain Forfeited Assets from the . Fla., Miami Division)", Status of Criminal Proceedings Against Robert Shapiro, SPECIAL NOTICE TO HOLDERS OF CLASS A LIQUIDATION TRUST INTERESTS REGARDING "UNCASHED" OR "UNDELIVERABLE" CHECKS, Notice of Quarterly Report of the Liquidation Trust for the period ending March 31, 2019, United States Department of Justice's PRESS RELEASE "Owner of Woodbridge Group and Two Former Directors Charged with $1.3 Billion Investment Fraud (Ponzi) Scheme Involving 10k Victims, United States Securities and Exchange Commission's PRESS RELEASE "SEC Charges Former Woodbridge Directors of Investment Fraud", PRESS RELEASE - WOODBRIDGE LIQUIDATION TRUST ANNOUNCES FIRST DISTRIBUTION TO ITS HOLDERS. ', ABC news anchor George Stephanopoulos is said to be one of those fleeced by the scheme, The headquarters of the Woodbridge Group of Companies in Sherman Oaks, California. The judgment was against Woodbridge and its 281 related companies, ordering them to pay $892 million in disgorgement Michael Goldberg, Liquidation Trustee The SEC has ordered her to disgorge almost $1.4M and pay nearly $165K of prejudgment interest. Notice of Agenda of Matters not going forward. As sales managers, these defendants sold Woodbridge securities and trained and supervised Woodbridge internal sales agents who sold Woodbridge securities. 201 East Las Olas Boulevard Prevailing Eastern TimeGeneral Bar Date, Affidavit/Declaration of Service re: Stipulation of Dismissal of Adversary Proceeding without Prejudice Solely as to Defendant Jeri Shapiro. Latest Report Filed - Lessons Learned from the Woodbridge Scam He thanked the SEC Miami Regional Office and the U.S. Attorneys Office for the Central District of California for their assistance. 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. Case No. 33132, Telephone: (305) 961-9001 Our Woodbridge fraud attorneys can help you explore your legal options. Here's the link to this latest SEC filing. Fee Amount $350 (13 (Recovery of money/property - 548 fraudulent transfer)),(14 (Recovery of money/property - other)). 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. 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. 0:00. Hearing scheduled for 2/8/2022 at 10:30 AM at US Bankruptcy Court, 824 Market St., 3rd Fl., Courtroom #7, Wilmington, Delaware. 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 . 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. 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. The Honorable Judge Marcia G. Cooke of the U.S. District Court for the Southern District of Florida approved judgments against . %%EOF DOCS_LA:323463.1 94811/003 2 require Jeri Shapiro to forfeit all of her assets and bank accounts that the government has Have a question about Government Services? PDF USA_v_Shapiro_et_al__flsdce-19-20178__0167.2.pdf 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!' 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. 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 . Woodbridge executives settle with SEC for $3.75 million Colin Robinson, Esq. Two Remaining Defendants of $1.3 Billion Investment Fraud (Ponzi PDF UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF FLORIDA Case No. 17 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. Jeri is currently based in Cleve land, Ohio. [Bloomberg] Natalie Hoberman. 1:02. 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 . 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. Court records show other family members, including a nephew, an uncle and a stepson also profited. (Robinson, Colin), Affidavit/Declaration of Service re: Entry of Default. The two executives, Dane Roseman and Ivan Acevedo, were both sales managers for Woodbridge at different times between 2013 and 2017. 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 scheme also involved misrepresentations to financial planners who helped Woodbridge to sell investments to potential investors. Woodbridge Group of Companies, LLC Robert Shapiro, left with his wife Jeri, owned The Woodbridge Group of Companies. 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. 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. 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? The complaint alleges she owns assets, including real estate . Along with wife Jeri, Shapiro appeared to mix in celebrity circles. The Securities and Exchange Commission today announced that a federal court in Florida ordered Woodbridge Group of Companies LLC and its former owner to pay $1 billion in penalties and disgorgement for operating a Ponzi scheme that targeted retail investors.. Acting U.S. Attorney Gonzalez commended the investigative efforts of the FBI, IRS-CI and OFR in this matter. Law360 provides the intelligence you need to remain an expert and beat the competition. ), Request for Entry of Default Filed by Woodbridge Liquidation Trust. 'I will pursue any valid claims I have and will comply with all proper rulings of the bankruptcy court. Public Affairs Officer Miami, Fl. Published By Shepherd Smith Edwards & Kantas, LLP, NorthStar Financial Services (Bermuda) - Learn More Here, US Securities and Exchange Commission (SEC), Shepherd Smith Edwards and Kantas, LLP (SSEK Law Firm), Woodbridge Structured Funding WMF Management, Woodbridge Mortgage Investment Funds 1, 2, 3, 3A, and 4, Woodbridge Commercial Bridge Loan Funds 1 and 2. Shapiro is said to have enjoyed a luxury lifestyle of chartered planes, country-club fees, Porsche cars and pricey jewelry. {HB[4A@\@EYD@A@`q[mummuHiyt;iT'~?Nn{(B/&1]T:`!DvBZlrqBDB[iPW=dHb^B=Q[]M!c$D\TU Woodbridge, at Shapiro's direction, additionally hired a public relations firm to manipulate search engine results so as to hide the state regulatory orders from customers who searched the Internet for Woodbridge. Woodbridge Financial: Representation of Jeri Shapiro, . Shapiro, 61, of Sherman Oaks, California, entered his plea Wednesday in . (related document(s)[, Status Report Liquidation Trust's Status Report for May 19, 2021 Status Conference Filed by Michael Goldberg. Hearing scheduled for 5/27/2020 at 10:30 AM at US Bankruptcy Court, 824 Market St., 6th Fl., Courtroom #1, Wilmington, Delaware. SHAPIRO, JERI SHERMAN OAKS, CA 91423: Woodbridge Structured Funding Llc/Executive: $5,000: 03/18/2015: P: RUBIO VICTORY COMMITTEE - Republican: Search: 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. This case is being prosecuted by Assistant U.S. Attorney Roger Cruz. 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. Click here to login, 2023, Portfolio Media, Inc. | About | Contact Us | Legal Jobs | Advertise with Law360 | Careers at Law360 | Terms | Privacy Policy | Cookie Settings | Help | Site Map, Enter your details below and select your area(s) of interest to stay ahead of the curve and receive Law360's daily newsletters, Email (NOTE: Free email domains not supported). SEC Charges Calif. Businessman In $1.2B Ponzi Scheme In fact, you dont even need to live here as we have it all covered. 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, Bloomberg reported. 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. #37.1 - Filed 09/12/2016: Appendix Joint Exhibit and Witness List The views expressed in the contents above are those of our users and do not necessarily reflect the views of MailOnline. 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. Robert Shapiro (1) Guilty Counts 1,10 [ECF No. 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. 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. The defendant allegedly promised investors 5-10% in interest yearly. Court Orders $1 Billion Judgment Against Operators of Woodbridge Ponzi . CEO Sentenced to 25 Years for Leading $1.3 Billion Real Estate Ponzi The returns over summer for all the world's major stock markets revealed, Would you back risky AIM shares to beat inheritance tax? Submitting a contact form, sending a text message, making a phone call, or leaving a voicemail does not create an attorney-client relationship. Filed by Epiq Class Action & Claims Solutions, Inc.. (related document(s)[, Amended Notice of Agenda of Matters Scheduled for Hearing Filed by Liquidation Trust. -----x adv. hWm8+AVkRwuOB|`.@4KsV. 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. The SEC announced an investigation of Woodbridge in early December, alleging that Woodbridge sold unregistered securities. Wilmington DE 19801 If you do not have Adobe Acrobat, please click here to download the free Adobe Reader. Robert Shapiro | Woodbridge Group of Companies | SEC The property, first listed for $180 million, dropped to $115 million in September. Ponzi Fraud Lawyers In 2017, the US Securities and Exchange Commission (SEC) filed charges against Woodbridge, which it called a group of unregistered investment companies, and other 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. 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. 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. Jeri Shapiro (Shapiro's wife), Woodbridge Realty of Colorado, LLC d/b/a Woodbridge Realty Unlimited; Woodbridge . According to the indictment, superseding information, and court documents, Shapiro spearheaded and concealed an enormous Ponzi scheme through his business, Woodbridge. 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."
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