Thursday, August 08, 2019

One *billion* dollars in fraud

Pleading to a billion dollar fraud case is tough because the guidelines are so high. So sometimes it may be better to take your chances at trial (unless the defendant is permitted to plead to a 371 conspiracy with a 5-year cap). Here’s a Miami Herald article about a plea in the Woodbridge case for Robert Shapiro:

The founder of a South Florida real estate company pleaded guilty Wednesday to orchestrating a $1.3 billion Ponzi scheme that bilked thousands of mostly elderly investors.

Robert H. Shapiro, the former CEO of the Woodbridge Group of Companies, admitted in Miami federal court that he “misappropriated” between $25 million and $95 million of the investors’ money to himself and his family to pay for an estate in the Los Angeles area, chartered planes, global travel, jewelry, diamonds and vintage wines. Shapiro also collected artworks by Pablo Picasso, Marc Chagall, Pierre-August Renoir and Alberto Giacometti. He also owned a Mercury convertible.

Now, all those luxury items belong to the feds.

Shapiro, 61, who was arrested in April, faces up to 20 years for wire and mail fraud conspiracy and an additional 5 years for tax evasion at his sentencing on Oct. 15 before U.S. District Judge Cecilia Altonaga. In pleading guilty, Shapiro avoids going to trial but still is looking at a total of 25 years in prison.


Anonymous said...

Doesn't the fact that Epstien repeatedly took the fifth during his post-deal depo establish that he understood perfectly well that he had not received universal immunity? Just saying.

Rumpole said...

Is the mercury convertible available for purchase ?

Anonymous said...

It's so great to see all of these politicians outraged by epsteins suicide. Maybe something good will come of this and they will learn just how fucked up BOP is.

On another note, his attorney should be given an opportunity to appologize for blaming judges for his clients demise. Absent an apology, he should be disciplined by the bar.

Anonymous said...

Apologize for what? He wasnt a flight risk or danger, under the circumstances he proposed, which included 24hour guards. The only reason that proposal was rejected was not because he was still a flight risk or danger, but on the policy rationale that the rich cant create their own jails. So the prosecutors and judge say that, and he dies in a public jail. This is exactly the time for i told you so.

Anonymous said...

The guy was clearly still a danger...witness tampering, continued exploitation, possession of the "memories" of his crimes, etc.

Apologize for questioning the impartiality of the want to be angry and stomp your feet, fine, but don't go on a trumpian tirade that accuses the court of being crooked.

Show me this superstar lawyer's letter to the warden where epstein was staying that warned the warden he was at risk of suicide and putting him on notice (that his ass is on the line). I have seen better lawyers write such letters when they have concern for thier clients. Where is the letter he (did not) send to the prosecutors pre-indictment offering to surrender Epstien and informing them of his travel, as a set up for argument on flight risk. Where is his letter (that seems not to exist) to Jeffrey advising him to make sure he doesn't do anything stupid that could lead to a finger being pointed at him as continuing his criminal conduct? Totally foolish to suggest bond had to be granted in this case given the fact it is absurd to suggest the judge was off the rails.

If the finger of blame is to go around for epstiens suicide, then this lawyer should consider examining how that finger points at himself.

Anonymous said...


Epstein was a danger for possessing the "memories" of his crimes? What does that even mean? Did you read that after you wrote it?

You are a strange person. I think you might be intellectually disabled, but for sure you are crazy. Please post again with a long, weird response that shows how looney you are, you can have the last word.

Anonymous said...

The fact that he tried and then did kill himself demonstrates what a danger he was. Somebody with those resources, lack of morals, and who is that desperate, presents an extreme risk. Shame on BOP for letting him do it, but this is a guy who has and who was again going to harm people, because he was detained the damage was limited to himself.

Anonymous said...

Why so angry?

Nude pictures of underage girls = "memories" of his crimes. An ivy league guy like you can come up with a better synonym, but the thought remains the same. He was sick and couldn't help himself.

Anonymous said...


Same idea, not a synonym.

Anonymous said...

Why are we bothered that Epstein killed himself? I'm not trying to make light of suicide, but in this context, seems like an ok result to me. Its an effective admission of guilt, we got rid of him, didn't spend more resources on a trial and incarceration, and we have no "icky" feeling over capital punishment.

Perfect? No.
Enough to stop talking about Epstein and to move on to other things? yes.