Call or email SSSEK Law Firm today if you were an investor that lost money in the Woodbridge Ponzi scam. 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 . 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. He would then use new investments to pay off older ones. 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. Read the SECs Final Judgment in the Woodbridge Case. Jeri is currently based in Cleve land, Ohio. 0:00. Shapiro is said to have enjoyed a luxury lifestyle of chartered planes, country-club fees, Porsche cars and pricey jewelry. CtMercer Vine''), Riverdale Funding, Adobe Reader is required to view the PDFs. The Ponzi fraud fell apart after payments to investors stopped and Woodbridge filed for bankruptcy. 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. Play it now! >Lbbn?\#3vpksKO"wP1ip//<3s|O~a. Shepherd Smith Edwards and Kantas, LLP (SSEK Law Firm) works with investors that have lost money because they fell victim to a Ponzi scam. 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. 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. According to the indictment, superseding information, and court documents, Shapiro spearheaded and concealed an enormous Ponzi scheme through his business, Woodbridge. 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. 2903, DE Bankruptcy Case No. %%EOF Please do not include any confidential or sensitive information in a contact form, text message, or voicemail. It is further ORDERED and ADJUDGEDthat Jeri Shapiro shall satisfy the disgorgement and prejudgment interest due to the Commission by paying $100,000 as set forth in the payment plan in Paragraph II and disgorging the following assets to the bankruptcy estate in the matter of In Re Woodbridge Group of Companies, LLC, et al., Case No. Click here for a video tour ofsome of ourcontemporary spec homes, currently under construction in Snowmass. 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! 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. Notice of Agenda of Matters not going forward. 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. 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 . His wife, Jeri Shapiro, is a relief defendant in the case. The most notable was the Owlwood Estate, a 10-acre mansion in Holmby Hills once owned by Sonny Bono and Cher. 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. But interest rate threat still looms, warns boss Jamie Dimon, Bell tolls for U.S. banking: With each failure and rescue, the prospects of maintaining confidence look ever more remote, saysALEX BRUMMER, Over 65s hold 2.6TRILLION worth of housing wealth - largely without mortgages - as youngsters battle to get on the ladder, Why 2023 is the worst year to start retirement: Inflation and stock market wobbles hit the pension power of hundreds of thousands of older workers, Should you sell in May? Submitting a contact form, sending a text message, making a phone call, or leaving a voicemail does not create an attorney-client relationship. Hearing scheduled for 2/8/2022 at 10:30 AM at US Bankruptcy Court, 824 Market St., 3rd Fl., Courtroom #7, Wilmington, Delaware. : 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. %PDF-1.5 RS Protection Trust. 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 . 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. 173 0 obj <>stream Home; About. In fact, you dont even need to live here as we have it all covered. 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. Receipt Number 9551150, amount $ 350.00. . In the legal profession, information is the key to success. {HB[4A@\@EYD@A@`q[mummuHiyt;iT'~?Nn{(B/&1]T:`!DvBZlrqBDB[iPW=dHb^B=Q[]M!c$D\TU 201 East Las Olas Boulevard 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 money will be used to compensate the victims of the Ponzi scheme. 'The settlement provides for the return of significant funds to investors.'. 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. Public Affairs Officer 19-51076-BLS. Woodbridge Luxury Homes of California, Inc. served on 12/28/2017, answer due 1/18/2018. Jeri was pictured with her friend and TV judge Jeanine Pirro in 2016. right. Lock (related document(s)[28]) Notice Date 01/20/2022. Roseman received approximately $2.5 million in Woodbridge money and Acevedo received approximately $1.1 million. ), 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. As its sole owner and chief operator, Shapiro compartmentalized Woodbridge operations to restrict access to information concerning Woodbridges finances. In some instances, Shapiro made these fraudulent interest payments even when the advertised investment properties were never acquired. They worked for Robert Shapiro, Woodbridge's CEO, who in 2019 . Shapiro and Woodbridge used at least $328 million to repay principal and interest . Jeri Shapiro (Shapiro's wife), Woodbridge Realty of Colorado, LLC d/b/a Woodbridge Realty Unlimited; Woodbridge . He did not admit nor deny the allegations. Special Counsel to the U.S. Attorney 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. Acting U.S. Attorney Gonzalez commended the investigative efforts of the FBI, IRS-CI and OFR in this matter. The judgment was against Woodbridge and its 281 related companies, ordering them to pay $892 million in disgorgement At least 2,600 of these investor victims invested their retirement savings, totaling approximately $400 million. 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). 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. Your email address will not be published. (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). Colin Robinson, Esq. please click here. Main Office: Judge Marcia G. Cooke ordered Woodbridge and its 281 related companies to pay $892 million in disgorgement. %PDF-1.7 % [Bloomberg] Natalie Hoberman. 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. Along with wife Jeri, Shapiro appeared to mix in celebrity circles. 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. 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. The SEC sued Shapiro in December 2017, accusing him of misleading investors. 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. But his expensive way of life was allegedly at the expense of those who paid money into the scheme, including ABC news anchor George Stephanopoulos. Have a question about Government Services? Federal authorities alleged that Woodbridge defrauded thousands of investors in an $3 billion dollar Ponzi scheme that marketed real . The SEC formally charged Woodbridge Group of Companies and owner Robert H Shapiro of Sherman Oaks, California and Aspen, Colorado with securities fraud, ordering their assets frozen and alleging the group defrauded more than 8,400 investors, many of whom were seniors who financed their investments by using retirement savings, in a "massive" $1.2 billion Ponzi scheme that utilized unregistered Woodbridge Funds. Woodbridge Mortgage Investment Fund 2, LLC. The defendant allegedly promised investors 5-10% in interest yearly. FB Objections due by 2/3/2022. Filed by Epiq Class Action & Claims Solutions, Inc.. (related document(s)[, Amended Notice of Agenda of Matters Scheduled for Hearing Filed by Liquidation Trust. Jeri Shapiro works at American Greetings, which is a Commercial Printing company with an estimated 1633 employees. SHAPIRO, JERI SHERMAN OAKS, CA 91423: Woodbridge Structured Funding Llc/Executive: $5,000: 03/18/2015: P: RUBIO VICTORY COMMITTEE - Republican: Search: Robert Shapiro, left with his wife Jeri, owned The Woodbridge Group of Companies. (Attachments: # (1) Exhibit A # (2) Affidavit of Counsel in Support # (3) Exhibit 1 to Affidavit of Counsel # (4) Certificate of Service) (Robinson, Colin). The real estate developer was accused of running a $1.2B massive fraud operation. 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. 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. (Robinson, Colin), Order Requiring Omnibus Status Report Addressing Each Pending Adversary Proceeding Signed on 4/13/2021 (MD), Order of Reassignment of Judge. 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 . 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. Notice of Agenda of Matters not going forward. Jeri Shapiro agreed to forfeit more than $9 million in accounts and property that she acknowledged the government could prove had been transferred from the debtors' accounts or had been purchased . 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. Password (at least 8 characters required). He resigned from his role as CEO that December, and the company filed for Chapter 11 bankruptcy. Official websites use .gov A Ponzi scheme is a fraudulent investing scam promising high with little risk to investors. ), Motion for Default Judgment against Defendant, Schwartz Media Buying Company, LLC Filed by Woodbridge Liquidation Trust. 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!' 919 North Market Street17th Floor 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. Woodbridge Liquidation Trust v. Shapiro et al Case No. Moment commuter blasts eco-zealots, Moment bull suffers catastrophic injuries after leaping from bridge, Russian freight train derails and bursts into flames after explosion, Royal superfans camping on The Mall ahead of King's Coronation, Historic chairs to be reused by the King for the coronation service, Women's rights activists and pro-trans campaigners separated, Saboteurs wreck Russian train cut power cables 37mi from Ukraine, Cambridge students party in the park during annual celebrations, Devastating tornado picks up car and hurls it through air in Florida, Student kicked out of school for 'there are only two genders' t-shirt, Unseen footage of Meghan Markle during her teenage years, Hundreds of Household Division members rehearse for coronation. Robert Shapiro, his bankrupt company Woodbridge, and others face an SEC complaint on Ponzi allegations with a narrative of luxury partnerships gone awry,. Court records show other family members, including a nephew, an uncle and a stepson also profited. 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. . (Attachments: # (1) Exhibit A # (2) Declaration # (3) Exhibit 1 to Declaration # (4) Certificate of Service) (Robinson, Colin), Affidavit/Declaration of Service re: Notice of Agenda of Matters Scheduled for Hearing on May 19, 2021 at 9:00 AM (Prevailing Eastern Time) before the Honorable J. Kate Stickles. 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. hWm8+AVkRwuOB|`.@4KsV. ', 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. Bradford Sandler, Esq. A locked padlock . 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. He also spent at least $21 million of investor money on private jets, luxury country clubs, plus other extravagances, the SEC claims. By using later investor funds to pay earlier investors' interests, Shapiro thus purportedly portrayed the scheme as legitimate when, in fact, it was fraudulent and on the verge of financial disaster. 99 N.E. How an investing trick can protect your family's nest egg but you must be careful how you do it, Will the crackdown on holiday lettings wreck your returns? (Robinson, Colin), Certificate of No Objection Regarding Motion for Default Judgment against Defendant, Schwartz Media Buying Company, LLC (related document(s)[, Notice of Agenda of Matters Scheduled for Hearing Filed by Liquidation Trust. (Koonin, Russell) December 29, 2017: Filing 47 SUMMONS (Affidavit) Returned Executed on #1 Complaint, with a 21 day response/answer filing deadline by Securities and Exchange Commission. (U.S. Treasury), Adversary case 19-51076. Hearing scheduled for 2/8/2022 at 10:30 AM at US Bankruptcy Court, 824 Market St., 3rd Fl., Courtroom #7, Wilmington, Delaware. The Commission also cited Shapiro for intentionally arranging for the manipulation of search engine results to hide certain state regulatory orders filed against Woodbridge, and for continuing to sell millions of dollars worth of Woodbridge products to residents of states that had already issued cease-and-desist orders. Marlene Rodriguez This resolution accomplishes one of the SEC's core missions to protect retail investors,' said Stephanie Avakian, Co-Director of the SEC's Division of Enforcement. It is alleged up to 8,400 retail investors were defrauded by Boca Raton-based Woodbridge, which filed for bankruptcy in 2017. (related document(s)[, Status Report Liquidation Trust's Status Report for May 19, 2021 Status Conference Filed by Michael Goldberg. Robert H. Shapiro, 62, defrauded . x|i@W=y$ ! Amended HEARING CANCELLED. Share sensitive information only on official, secure websites. 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. no. Robert Shapiro sentenced to imprisonment for a term of 300 months, supervised release for 3 years, $200 special assessment, restitution and forfeiture. }l,%~yK.e]Jr)R%KKds/X_ rc/ p^.HdsW'mS. 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"). #167.2 - Filed 10/13/2019: Exhibit 2-art related tracing, - PacerMonitor Mobile Federal and Bankruptcy Court PACER Dockets Jeri was pictured with her friend and TV judge Jeanine Pirro in 2016. right. MNR secured a binding non-prosecution agreement for Ms. Shapiro. Suite 1800 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. 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. (310) 203-4271, Reports and Letters by the Liquidation Trustee, Change Of Name or Address/Registration Of Transfers, Woodbridge Liquidation Trust - 2022 Grantor Letter, PRESS RELEASE - Woodbridge Liquidation Trust Announces Cash Distribution, PRESS RELEASE -Woodbridge Liquidation Trust Announces Cash Distribution, Important Information Regarding the 2021 Grantor Letters for the Woodbridge Liquidation Trust, Notice of Proposed Comerica Class Action Settlement, Notice Concerning Roseman and Acevedo Criminal Case, NOTICE CONCERNING THE JANUARY 27, 2021 DISTRIBUTION, NOTICE TO HOLDERS OF INTERESTS IN THE WOODBRIDGE LIQUIDATION TRUST - Important Information Regarding Your 2020 Income Tax Returns, PRESS RELEASE - Woodbridge Liquidation Trust Urges Its Holders to Safeguard Against Unauthorized E-Mails, Notice to Woodbridge Liquidation Trust Beneficiaries regarding 2019 Grantor Letter, IMPORTANT UPDATE REGARDING YOUR 2019 INCOME TAX RETURNS, PRESS RELEASE - Woodbridge Liquidation Trust Announces DTC Eligibility of Class A Liquidation Trust Interests, PRESS RELEASE - Woodbridge Liquidation Trust Announces Trading Symbol and Intent to Apply to Depository Trust Company for Direct Registration System Services, Notice to Trust Beneficiaries - Important Information Regarding Your 2019 Income Tax Returns, Liquidation Trustees Letter to Holders of Liquidation Trust Interests Regarding Pending Tender Offer by Contrarian Liquidity Option, LLC, Woodbridge Liquidation Trust Announces Cash Distribution, Liquidation Trustees Letter to Holders of Liquidation Trust Interests Regarding Form 10-12G Registration Statement, Recommendation by Liquidation Trustee and Supervisory Board Regarding Contrarian Tender Offer, Liquidation Trustees Letter to Holders of Liquidation Trust Interests Regarding Recommendation on Contrarian Tender Offer, Liquidation Trustee's Letter to Holders of Liquidation Trust Interests regarding Contrarian Funds LLC Tender Offer, Liquidation Trustee's Letter to Holders of Liquidation Trust Interests, Liquidation Trusts Third Quarter Report for the period ending September 30, 2019, Liquidation Trustee's Letter to Beneficiaries regarding the Woodbridge Liquidation Trust Form 10 Registration Statement.
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