January 28, 2019

The Woodbridge Group of Companies LLC and its former owner Robert H. Shapiro have been ordered to pay $1 billion in penalties and disgorgement for operating a ponzi scheme targeting retail investors, including many retirees, through 281 related companies.  Shapiro was ordered to pay a $100 million civil penalty and disgorge $18.5 million in ill-gotten gains; the companies were ordered to disgorge $892 million.  SEC

Tagged in: Ponzi Schemes, Securities Fraud,