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SEC claims brothers targeted elderly with real estate Ponzi scheme

Were You the Victim of a Real Estate Ponzi Scheme? The experienced Ponzi scheme attorneys at the Sonn Law Group are standing by, ready to help. Our team has successfully represented Ponzi scheme victims in the state of Florida, across the country and around the globe.

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However, the higher rewards come with a higher risk – for one, they are not covered by the Financial Services Compensation Scheme. Capital is also at. or mortgages for property development or.

SEC accuses Robert Shapiro of running $1.2 billion real estate ponzi scheme. SEC claims brothers targeted elderly with real estate Ponzi scheme. Ben Lane is the Managing Editor of HousingWire. In.

The SEC further alleges that Stanley pilfered from the estate of an elderly woman’s family trust, diverting nearly $100,000 to fund the lifepay ponzi scheme. The SEC’s complaint also alleges that, beginning in 2015, Stanley and Michael E. Watts ("Watts") orchestrated a second offering fraud through a company they controlled, SMDRE, LLC.

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The U.S. Securities and Exchange Commission charged real estate developers. was named in the claims. The SEC filing said Shapiro and Woodbridge defrauded more than 8,400 investors in a $1.2 billion.

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Daniel Rivera and his brother, Matthew Rivera, were charged by the SEC with running ponzi scheme through a real estate venture called Robbins Lane. The Robbins Lane website recommended that investors sell their retirement assets to invest in the venture as the opportunity would give "the senior investor a guaranteed monthly income."

Ponzi schemes are not new, and they have been around since the early 20th century when its namesake, Charles Ponzi of Boston created a scheme that promised investors a hefty return on their investment in postal coupons. In his scheme, Ponzi was unable to pay investors who were looking for their guaranteed return.

On March 24, 2016, the Securities and Exchange Commission charged two brothers, and a company that they founded purportedly to develop and sell real estate, with engaging in a $2.7 million Ponzi scheme that targeted approximately 30, largely elderly and unsophisticated investors over a six-year period.