Robert Shapiro and the LA skyline (Credit: iStock) It was 2016 and Robert Shapiro was at the peak of his home buying and developing binge. That September, the CEO of Sherman Oaks, California-based Woodbridge Group of Companies spent $90 million to acquire the historic Owlwood Estate. The deal for the 12,200-square-foot mansion with sunken tennis […]
Jho Low’s NYC condos to hit market as part of forfeiture lawsuit
From left: 80 Columbus Circle, Jho Low, and 118 Greene Street (Credit: Getty Images) A U.S. forfeiture lawsuit is targeting two luxury New York City condos owned by Jho Low, a Malaysian financier who was allegedly the mastermind behind a $4.5 billion dollar scam involving the Malaysian sovereign wealth fund. On Wednesday, U.S. lawyers and […]
One of the country’s largest landlords accused of “Ponzi scheme-like” scam
Morgan Management CEO Robert Morgan (Credit: Facebook and iStock) The Securities and Exchanges Commission and the Justice Department are alleging that Robert Morgan, one of the largest landlords in the country, ran a “Ponzi scheme-like” scam. The SEC filed civil charges against Morgan, who they say raised $110 million from more than 200 investors — […]
Lenders poised to take over apartment empire amid massive mortgage fraud probe
Morgan Management’s Robert C. Morgan and the Avon Commons apartment complex in Avon, N.Y. (Credit: Rochester Institute of Technology) Rochester-based Morgan Management nearly tripled its apartment holdings over the past decade, building a giant rental portfolio of 140 properties across 14 states with more than 34,000 units. But amid a massive mortgage fraud investigation which […]