(Reuters) – The U.S. Securities and Exchange Commission said on Thursday it had sued luxury real estate developer Robert Shapiro and his Woodbridge Group of Companies for allegedly operating a $1.2 billion Ponzi scheme targeting thousands of investors
SEC Shuts Down Woodbridge Group and Robert Shapiro, Calling His Real Estate Empire A PonziValueWalk
SEC Claims Florida-Based Woodbridge Group Ran $1.2B Ponzi
SEC files fraud lawsuit, asset freeze in $1.2B alleged Ponzi schemeSouth Florida Business Journal
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Source: Business