LUXURY REAL-ESTATE DEVELOPER ROBERT SHAPIRO JUST GOT SENTENCED TO 25 YEARS IN PRISON FOR DEFRAUDING THOUSANDS OF ELDERLY PEOPLE IN A MASSIVE PONZI SCHEME

ub-foto/Shutterstock Robert Shapiro pled guilty in August to a $1.3 billion real-estate Ponzi scheme. On October 15, the former Woodbridge Group CEO was given the maximum sentence: 25 years in prison. Shapiro and his company defrauded over 7,000 investors — many of them elderly — over the course of five years, promising that investments would go towards building and buying luxury properties. Instead, Shapiro personally siphoned ...

BusinessInsider (Date:10/16/2019 16:24) Read full article >>

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