When developer Robert Shapiro in August pleaded guilty to leading a $1.3 billion Ponzi scheme as CEO of Woodbridge Group of Companies, he faced up to 25 years in prison. On Tuesday, a federal court judge sentenced Shapiro to that maximum, closing the criminal chapter on what has been a two-year-long saga surrounding the massive fraud perpetrated by his now defunct Sherman Oaks-based investment firm. In all, more than 7,000 property investors were defrauded over
source https://therealdeal.com/la/2019/10/15/developer-robert-shapiro-sentenced-to-25-years-in-prison-for-massive-ponzi-scheme/
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