Former Woodbridge CEO fined $120M by SEC in alleged Ponzi scheme



Robert Shapiro, the former head of Woodbridge Group of Companies, agreed to pay $120 million to the U.S. Securities and Exchange Commission to settle allegations that he ran a $1.2 billion Ponzi scheme that defrauded more than 8,400 investors. Woodbridge Group once had about 140 employees in six states, including an office in Boca Raton. Woodbridge Structured Funding was also based in Boca Raton. (South Florida Business Journal)