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

By Nathan Hale (October 15, 2019, 12:45 PM EDT) -- Former Woodbridge Group owner and CEO Robert H. Shapiro was sentenced Tuesday to 25 years in prison for tax evasion and orchestrating a Ponzi scheme that raised $1.3 billion from more than 9,000 investors, resulting in approximately $470 million in losses.

A Florida federal court sentenced former Woodbridge Group CEO Robert H. Shapiro to 25 years in prison Tuesday for orchestrating a Ponzi scheme that cost investors $470 million. (Getty) U.S. District Judge Cecilia M. Altonaga handed down the maximum sentence available under a plea agreement that Shapiro reached for what the government called one of the largest Ponzi schemes ever. Several...

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