Complaint For Avoidance and Recovery of Avoidable Transfers, Fraud, Aiding and Abetting Fraud, Unjust Enrichment, Breach of Fiduciary Duty, and the Sale of Unregistered Securities by Woodbridge Liquidation Trust against Robert Shapiro, 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 Partners, LLC. . 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. 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. . Jeri Shapiro. 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 $892 million to the commission . Miami, Florida On July 12, 2021, Los Angeles County, California natives, Dane Roseman, 38, and Ivan Acevedo, 44, pled guilty to participating in a massive investment fraud scheme, in which more than 7,000 victims suffered financial losses, in violation of 18 U.S.C. As its sole owner and chief operator, Shapiro compartmentalized Woodbridge operations to restrict access to information concerning Woodbridges finances. 'I will pursue any valid claims I have and will comply with all proper rulings of the bankruptcy court. For instance, after failing to make its regularly scheduled one-year Notes payment on December 1, 2017 and filing for bankruptcy protection shortly thereafter, the Woodbridge Group of Companies sent a letter to investors claiming that its bankruptcy is a strategic effort to "establish a stronger financial platform." no. Why the digital generation of investors is shaking things up, Rise of the unmotivated buyer and seller: Home sales stall in stand-off over prices in wake of mortgage spike, Equity release nosedives in popularity as typical rates went as high as 8% - and sub-4% deals are unlikely to return f, Rents outside of London soar to an average of 1,190 a month as tenants compete for a lack of homes to let, Victory for mums after five-year This is Money campaign! hb```),@(qYPa i cP %~Vz(5=::$`h Blb9@s@4%#7#C$Ccc2-5D:7400.;]I" k, They purportedly made no income and did not pay interest on any of these supposed loans. (Admin. Miami, Fl. Objections due by 2/3/2022. Amended HEARING CANCELLED. Woodbridge Securities (a/k/a Woodbridge Group of Companies) was a $1.2 billion Ponzi scheme run by CEO Robert H. Shapiro. 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., 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. Please do not include any confidential or sensitive information in a contact form, text message, or voicemail. Pachulski Stang Ziehl & Jones LLP, Counsel to Woodbridge Liquidation Trust 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." . 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. MNR secured a binding non-prosecution agreement for Ms. Shapiro. A locked padlock Jeri Shapiro. HEARING CANCELLED. Court Docket pro. 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. Robert Shapiro sentenced to imprisonment for a term of 300 months, supervised release for 3 years, $200 special assessment, restitution and forfeiture. Here are some of the companies, aside from Woodbridge Group of Companies, that are defendants in the SECs Ponzi fraud case: Shapiro is now permanently barred from associating with brokers, investment advisers, municipal advisers, and others in the securities industry. 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. We serve the following localities: Atlanta, Baltimore, Boston. Jeri Shapiro waiver sent on 12/22/2017, answer due 2/20/2018. 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!' Lock Other relief defendants in the case also settled without denying or admitting to the SECs allegations. Robert Shapiro, his bankrupt company Woodbridge, and others face an SEC complaint on Ponzi allegations with a narrative of luxury partnerships gone awry,. 2903, DE Bankruptcy Case No. NEWS. Robert Shapiro of the bankrupt Woodbridge Group used to live at Aspen Glen, where his company also had numerous real estate holdings. Woodbridge Realty of Colorado Throws THE Party of The Year! (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). He also is banned from taking part in any penny stock offerings. Since the lawsuit hit, a number of Woodbridge-owned properties have come on the market for sale. Required fields are marked *. If you do not have Adobe Acrobat, please click here to download the free Adobe Reader. Between 2015 and 2017 he served as the sales manager of Woodbridge. 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). Farm Heroes Saga, the #4 Game on iTunes. 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.. 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. 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? In reality, the SEC says Woodbridge, based in California after it was founded in Boca Raton, made no interest payments and used money from new investors to pay older ones in classic Ponzi scheme fashion. 'The settlement provides for the return of significant funds to investors.'. Co-defendant Robert Shapiro, the former owner, president, and CEO of Woodbridge Group of Companies LLC ("Woodbridge") was previously . 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. Jeri was pictured with her friend and TV judge Jeanine Pirro in 2016. right. (related document(s)[, Status Report Liquidation Trust's Status Report for May 19, 2021 Status Conference Filed by Michael Goldberg. Main Office: Your email address will not be published. % Shapiro must disgorge $18.5M in ill-gotten gains, as well as pay $2.1 in prejudgment interest and a $100M civil penalty. Wilmington DE 19801 Jeri was pictured with her friend and TV judge Jeanine Pirro in 2016. right. Shapiro and other defendants will be held accountable and required to pay substantial penalties for their misconduct. Woodbridge promoted investments through telephone and in-person conversations, e-mails and website displays. In some instances, Shapiro made these fraudulent interest payments even when the advertised investment properties were never acquired. 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. Assistant U.S. Attorney Sara Klco is handling the asset forfeiture component of the case. The property, first listed for $180 million, dropped to $115 million in September. Home; About. Woodbridge Liquidation Trust Attn: Michael Goldberg, Liquidation Trustee c/o Akerman, LLP 350 East Las Olas Boulevard, Suite 1600 . Colin Robinson, Esq. The agreement will also . Revelers at Aspen Glen, New Years Eve 2015. 128 0 obj <> endobj Roseman started working for Woodbridge as a sales agent in or around August 2012. Your email address will not be published. [Bloomberg] Natalie Hoberman. 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. Fort Lauderdale, FL 33301 The fraud scammed approximately 8,400 victims of retail investors, many of them elderly. Click to access Woodbridge-10Q-March312022.pdf.pdf. 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. 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. The SEC also charged 18 sales agents. All the defendants and relief defendants named in the SECs case have settled but without denying or admitting to the regulators allegations. Using high-pressure sales tactics, Shapiro, Roseman, Acevedo, and others marketed and promoted these investments as low-risk, safe, simple, and conservative. 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. Ponzi Fraud Lawyers (Attachments: # (1) Exhibit A # (2) Exhibit B # (3) Exhibit C) (Robinson, Colin). Woodbridge Liquidation Trust v. Shapiro et al USAFLS.News@usdoj.gov, Southern District of Florida (Attachments: #1 Exhibit A, Doc. The returns over summer for all the world's major stock markets revealed, Would you back risky AIM shares to beat inheritance tax? (related document(s)[28]) Notice Date 01/20/2022. 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. It is alleged up to 8,400 retail investors were defrauded by Boca Raton-based Woodbridge, which filed for bankruptcy in 2017. Shapiro, Roseman, and Acevedo falsely claimed that Woodbridge was profitable and advertised high rates of return to investors. The indictment further alleges that Shapiro caused most of the Woodbridge companies to file Chapter 11 bankruptcy, which caused investors to suffer substantial losses, as they were owed close to $1 billion in principal. 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. Play it now! Woodbridge Luxury Homes of California, Inc. served on 12/28/2017, answer due 1/18/2018. (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. Receipt Number 9551150, amount $ 350.00. ), Create custom alerts for specific article and case topics and, I took a free trial but didn't get a verification email. Jeri Shapiro (Shapiro's wife), Woodbridge Realty of Colorado, LLC d/b/a Woodbridge Realty Unlimited; Woodbridge . 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 . The SEC announced an investigation of Woodbridge in early December, alleging that Woodbridge sold unregistered securities. 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 17-12560-KJC, #2 . 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. 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. 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. 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. Robert Shapiro, left with his wife Jeri, owned The Woodbridge Group of Companies. Last but not least, if youdrop by ourAspen Glen officeanyFriday, we serve gourmet muffins and fresh coffee all daymeanwhile,all of us at Woodbridge Realty of Colorado wish youa successful and prosperous 2016! ASPEN Meat & Cheese Restaurant & Farm Shop, GLENWOOD SPRINGS Juicy Lucy's Steakhouse, Elevating Real Estate at Desert Mountain, Scottsdale, AZ. (Robinson, Colin), Affidavit/Declaration of Service re: Entry of Default. 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 . >Lbbn?\#3vpksKO"wP1ip//<3s|O~a. 4th Street Notice of Agenda of Matters not going forward. hWm8+AVkRwuOB|`.@4KsV. District of Delaware Woodbridge employed approximately 130 people and had offices located throughout the United States, including in Boca Raton, Florida; Sherman Oaks, California; Colorado; Tennessee; and Connecticut. It is similar to a pyramid scheme in that both are based on using new investors' funds to pay the earlier backers. Shapiro was the nominee owner of several closely-held companies that received tens of millions of dollars at the direction of her husband, who ultimately pled guilty and was sentenced to 25 years in prison. In March 2021, the Trust received certain Forfeited Assets from the . Submitting a contact form, sending a text message, making a phone call, or leaving a voicemail does not create an attorney-client relationship. 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 CtMercer Vine''), Riverdale Funding, He also spent at least $21 million of investor money on private jets, luxury country clubs, plus other extravagances, the SEC claims. %PDF-1.7 % Jeri Shapiro agreed to forfeit more than $9 million in accounts and property that she acknowledged the government could prove had been transferred from the debtors' accounts or had been purchased . 19-51076-BLS. x|i@W=y$ ! 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. 0 The SEC has ordered her to disgorge almost $1.4M and pay nearly $165K of prejudgment interest. . Password (at least 8 characters required). 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! Prior to SEC involvement, states had already begun to uncover the true fraudulent nature of Robert H Shapiro's Woodbridge Group of Companies. Michael Goldberg, Liquidation Trustee 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. Liquidation Trustee's Status Letter to Beneficiaries, United States v. Robert Shapiro - Jeri L. Shapiro's Consent to Forfeiture ECF No. By Lauren Fruen For Dailymail.com and Associated Press, Published: 15:59 EDT, 28 January 2019 | Updated: 17:38 EDT, 29 January 2019. They worked for Robert Shapiro, Woodbridge's CEO, who in 2019 . 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 . RS Protection Trust. Along with wife Jeri, Shapiro appeared to mix in celebrity circles. : 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. To display the docket in chronological order, Call or email SSSEK Law Firm today if you were an investor that lost money in the Woodbridge Ponzi scam. 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 of Grammy 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. Bradford Sandler, Esq. The regulator contends that Woodbridge claimed that its main business was to issue loans to third-party commercial property owners. Prior to SEC involvement, states had already begun to uncover the true fraudulent nature of Robert H Shapiro's Woodbridge Group of Companies. (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. (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. 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 . Of this $1B, Woodbridge and its 281 related companies must pay $892M in disgorgement. The money will be used to compensate the victims of the Ponzi scheme. ', '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. On August 7, 2019 Robert H. Shapiro, the former CEO of the Woodbridge Group of Companies, pled guilty and admitted in Miami federal . Woodbridge Financial: Representation of Jeri Shapiro, . The contact form sends information by non-encrypted email, which is not secure. Hearing scheduled for 2/8/2022 at 10:30 AM at US Bankruptcy Court, 824 Market St., 3rd Fl., Courtroom #7, Wilmington, Delaware. 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.
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