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CEO in Real Estate Ponzi Scheme Fined $120 Million by SEC

2018-11-02 16:30:06| National Real Estate Investor

Robert Shapiro, the former Chief Executive Officer of the Woodbridge Group of Companies, promised returns of as high as 10 percent from investments in developers who flipped luxury real estate but instead their cash flowed into a web of related companies that Shapiro controlled, the SEC said.

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