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Robert Shapiro gets 25 years in prison for massive Ponzi scheme

UPDATED, Oct. 15, 11:04 a.m.: When developer Robert Shapiro pleaded guilty in August to leading a $ 1.3 billion real estate Ponzi scheme, 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 Shapiro’s now-defunct Sherman Oaks-based investment firm, Woodbridge Group of Companies. In all, more than 7,000 property investors

The Real Deal New York

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