Ponzi Scheme Operator, Others To Pay More Than $1B To Settle SEC Claims

Mealey's (January 29, 2019, 8:46 AM EST) -- MIAMI — A federal judge in Florida on Jan. 28 issued final judgments against the alleged operator of Ponzi scheme and a group of 11 related companies he managed and 130 limited liability companies, ordering the defendants to pay in excess of $1 billion in disgorgement and civil penalties in connection with their participation in the alleged scheme (Securities and Exchange Commission v. Robert H. Shapiro, et al., No. 17-24624, S.D. Fla.)....