According to the Superseding Information and Superseding Indictment, at least 2,600 of these investor victims invested their retirement savings, totaling approximately $400 million. 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. (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. At least 2,600 of these investor victims invested their retirement savings, totaling approximately $400 million. Colin Robinson, Esq. As sales managers, these defendants sold Woodbridge securities and trained and supervised Woodbridge internal sales agents who sold Woodbridge securities. 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 $1.2B Ponzi scam that victimized 8,400 retail investors, including many senior investors who ended up losing their retirement money. The scheme ran from at least July 2012 to December 2017, when Woodbridge filed for Chapter 11 bankruptcy and defaulted on its obligations to investors. {HB[4A@\@EYD@A@`q[mummuHiyt;iT'~?Nn{(B/&1]T:`!DvBZlrqBDB[iPW=dHb^B=Q[]M!c$D\TU Roseman received approximately $2.5 million in Woodbridge money and Acevedo received approximately $1.1 million. Public Affairs Officer 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. 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. Farm Heroes Saga, the #4 Game on iTunes. USAFLS.News@usdoj.gov, Southern District of Florida (Robinson, Colin), Affidavit/Declaration of Service re: Order. The money will be used to compensate the victims of the Ponzi scheme. 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. In its motion seeking discovery under Rule 2004 of the Bankruptcy Code, the trust said it needed to obtain documents and records from Jeri Shapiro, the wife of Robert Shapiro, to determine if she . PLEASE NOTE: A verification email will be sent to your address before you can access your trial. %%EOF (related document(s)[, Status Report Liquidation Trust's Status Report for May 19, 2021 Status Conference Filed by Michael Goldberg. 2903, DE Bankruptcy Case No. Shepherd Smith Edwards and Kantas, LLP (SSEK Law Firm) works with investors that have lost money because they fell victim to a Ponzi scam. Robert Shapiro (1) Guilty Counts 1,10 [ECF No. 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. #37.1 - Filed 09/12/2016: Appendix Joint Exhibit and Witness List The U.S. Securities and Exchange Commission (SEC) filed parallel civil enforcement actions against Woodbridge, Shapiro, his wife, and Acevedo and Roseman related to the fraud. According to the indictment, superseding information, and court documents, Shapiro spearheaded and concealed an enormous Ponzi scheme through his business, Woodbridge.
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