Tuesday, October 15, 2019

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BREAKING: Ex-Woodbridge CEO Gets 25 Years For $1.3B Ponzi Scheme

Former Woodbridge Group owner and CEO Robert H. Shapiro was sentenced Tuesday to 25 years in prison for orchestrating a Ponzi scheme that raised $1.3 billion from more than 8,000 investors, resulting in approximately $470 million in losses to them.

10 thoughts on “Here’s today’s news

  1. Will their possibly be a distribution at end of the year. I need to take that IRA RMD, the Tax to be paid to IRS on my ‘Fictitious’ Fair Market Value set by ‘Provident’ who won’t show the true Latest Value now set at 40%?

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    1. NO.
      I’m suggesting folks email Michael Goldberg the trustee. Do you have the last (U.S. mail) update he sent? That has his email contact – I think he needs to hear form us on how slow this sale / closing / distribution process is.

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