Antitrust Law Journal, Improving Critical Loss, Glenn Becks earnings stumbled once again, sliding to $8.5 million from last years $10 million due to the struggles of his conservative media company TheBlaze. Shapiro turned 100 in February 2013. Senior Consultant: Charles River Associates, Consultant: a wide range of private clients, the U.S. Department of Justice, and the Federal Trade Commission, Research Associate: National Bureau of Economic Research, Economic Analysis for Business Decisions, BA 201A, PhD, Economics, Massachusetts Institute of Technology, BS, Mathematics and Economics, Massachusetts Institute of Technology. . Shapiro claimed that she never knew about Madoffs scheme and was stunned to learn about it. Speaking about his personal life, Shapiro got married in 1939 to Ruth Gordan. Carl Shapiro Net Worth 2022 and insider trades. Over the past 18 months, since Forbes started tracking his income in 2009. Mr. Shapiro served on the Brandeis University Board of Trustees from 1979 to 1988. Webinar, D. Daniel Sokol, Moderator, Testimony Before the House Small Business Committee, March, How much money did Carl Shapiro lose to Madoff? However, Ben Shapiro net worth is estimated to be about $20 million. The 2010 Horizontal Merger Guidelines: You have two entities trying to rebuild their reputation with their core audience. Theyre still two broke people, says Les Rose, professor of practice in broadcast and digital journalism at Syracuses Newhouse School. Distinguished Professor of the Graduate School, Upward Pricing Pressure and Critical Loss Analysis. We will continue to work tirelessly with our partners from SIPC, the FBI, and the IRS, to track down any and all proceeds of Madoffs Ponzi scheme and return them to their rightful owners. After becoming a Trustee Emeritus, Brandeis gave the largest gift in Brandeis history, $25 million, to build the 2003 Carl and Ruth Shapiro Campus Center. Our hosts will have differences, but we share a common belief in free expression, honest discourse and a society founded in the principles of the Bill of Rights. Journal of Economics Perspectives, Patent System Reform: Economic Analysis and Critique, Salary in 2022. with Aaron Edlin, Scott Hemphill, and Herbert Hovenkamp, Since returning to Berkeley in 2012 after his government service, Shapiro has testified on behalf of the government in a number of important antitrust enforcement actions, including the FTC's case against Qualcomm and the challenge by a group of states to the merger between T-Mobile and Sprint. Beck also told The Hollywood Reporter that he is still interested in joining forces with Shapiro. He was the only child of Annie Skurnick and Aaron Shapiro, as well as the beloved younger brother of the late Selma Shapiro and Eileen Kommit. ABA Antitrust Section, Fall Forum, Competition Policy in Distressed Industries, According to the stipulation and order of settlement and accompanying civil forfeiture complaint filed in Manhattan federal court earlier today, the investment advisory business of Bernard L. Madoff Investment Securities LLC (BLMIS) was operated from at least as early as the 1980s as a massive Ponzi scheme, defrauding investors of billions of dollars. Getty. (Seacrest denied the claims; an investigation found insufficient evidence to support the allegations, which came from a former stylist.). [14][1] Since 2009 Shapiro divided his time between Boston and Palm Beach.[1]. They gave more than $US72 million to Brandeis University, where several buildings carry their name. Mr. Shapiro and his late wife, Ruth, made their first gift to Brandeis $10 in 1950, just two years after the universitys founding. Robert Pitofsky, ed., Oxford University Press. Konigsberg has been criminally indicted for working closely with Madoff to phony up investment records for Konigsberg's large clients to achieve targeted gains and tax losses. Based on ownership reports from SEC filings, as the reporting owner, Carl Shapiro owns 1 companies in total, including When Madoff was arrested in December 2008 and his fraud was revealed, it became clear that Shapirolike all of BLMISs investors who withdrew more money than they investedhad profited at the expense of more recent BLMIS investors. Mr. Shapiro was named in several places, including the Bernard L. Madoff Investment Securities scandal. From Hedgehog to Fox in Forty Years, Reply to Epstein and Rubinfeld, Carl Shaprio, the Boston philanthropist who was one of the earliest investors in Bernard Madoff's Ponzi scheme, is forfeiting his family's entire net worth in a settlement announced Tuesday. of 10,000 shares made by Paul A Maleh International Journal of Industrial Organization. Texas Law Review, The Design and Use of Patents, He also coined the term essential patent to cover a patent that was required to practice a given industry standard. Carl J. Shapiro, the Boston philanthropist and onetime "cotton king" of New York City's garment district who forfeited more than half a billion dollars in the aftermath of Bernard Madoff's Ponzi scheme, has died. The Antitrust Revolution, Information Rules: A Strategic Guide to the Network Economy, Mr. Shapiro founded Kay Windsor Inc. in New Bedford, Massachusetts, and built it into one of the largest womens apparel companies in the country. with Joseph Farrel, [2] As of June 2017, Shapiro, then 104, was noted as being the only one of Bernard Madoff's "big four" clients still alive. Carl J. Shapiro (February 15, 1913 March 7, 2021) was an American businessman and philanthropist. of To know more about Carl Shapiros net worth and investment history, read this article. He died March 7 at his home in Boston, according to an online death notice. Bernie Madoff, the former NASDAQ chairman and founder of the Wall Street firm Bernard L. Madoff Investment Securities LLC, revealed in December of that year that his companys wealth management branch was a multibillion-dollar Ponzi scam. Information Rules has received critical acclaim for its application of economic principles to the Information Economy and has been widely read by managers and adopted for classroom use. Yale Law Journal, How Antitrust Law Can Make FRAND Commitments More Effective, At Brandeis, in addition to supporting the construction of buildings central to the campus community, the Shapiros foundation also established the Carl Shapiro Chair in International Finance, the Carl and Ruth Shapiro Center for Library Technology and Journals and the Zinner Forum at the Heller School for Social Policy and Management. National Bureau of Economic Research, Competition Policy: A Century of Economic and Legal Thinking, with Joseph Farrell, This is a list of wealthy Americans ranked by net worth.It is based on an annual assessment of wealth and assets by Forbes and by data from the Bloomberg Billionaires Index.. 1980 1990, Professor, Woodrow Wilson School and Department of Economics, Princeton University, Economist of the Year, Global Competition Review By requiring him to forfeit this moneymore than he is currently worththe government and the SIPA Trustee have sent an important message: those who profited as a result of Bernard Madoffs fraud should disgorge those profits, which are rightfully other people's money. Other recipients of The Foundation hired Caras and Shulman, P.C. (The company told Forbes in 2008 that it had exercised appropriate due diligence but was victimized by a scheme designed to deceive individuals and organizations, managers and analystsincluding some of the largest, sophisticated financial institutions in the world.) In 2011, Tremont agreed to pay $1.025 billion to Madoff victims. May 2018; A. Douglas Melamed & Carl Shapiro. Since at least the late 1960s, Shapiro was an investor in Madoff holding an account in his own name and controlling accounts held by various related individuals and entities. Carl J. Shapiro, the Boston philanthropist and onetime cotton king of New York Citys garment district who forfeited more than half a billion dollars in the aftermath of Bernard Madoffs Ponzi scheme, has died. with Nancy Rose, Abstract. Economics of Networks and Interconnection. and The FTC's Challenge to Intel's Cross-Licensing Practices, in Mr. Carl Shapiro. Antitrust Magazine, Actavis and Error Costs: A Reply to Critics, Three . IESE-BBVA Prize Lecture, Madrid, Spain, Market Definition in Crude Oil: Shapiro holds a BS in mathematics and a BS in economics from the Massachusetts Institute of Technology, an MA in mathematics from the University of California, Berkeley and a PhD in economics from the Massachusetts Institute of Technology. The Madoff investment scandal was a large stock and securities fraud case that was revealed in late 2008. 2011 2012, Member, Presidents Council of Economic Advisers Rutgers University Law Review, Jean Tirole's Nobel Prize in Economics: The scam has been filmed and titled, Madoff: The Monster of Wall Street which is streaming on Netflix on January 4 as a true crime machine. Speech as Deputy Assistant Attorney General, January 1996. The estimated net worth of Ben Shapiro is $20 million. One of 60 Awardees selected from over 45,000 Fellows, Haas School of Business The company's clients include domestic and foreign companies, government agencies, public and private utilities, and national and international trade associations. Across many states, he has a huge media audience. with Steven Salop, He and Ruth (Gordon) Shapiro had been married for 73 years when she passed away in 2012. If the consequence of standing against Trump and for principles is indeed the election of Hillary Clinton, so be it. The name was inspired, she said, by Duke of Windsor, the title given to King Edward VIII after his 1936 decision to abdicate the British crown so that he could marry American divorcee Wallis Simpson. [12] In 2010, Shapiro and various related people and entities agreed to forfeit $625 million to the United States, all of which will be made available to the victims of the fraudulent investment advisory business which was owned and operated by Bernard L. Madoff. Innovation Policy and the Economy, Stern narrowly beats Americas most-listened-to radio host Rush Limbaugh, who made $84.5 million. Past performance is a poor indicator of future performance. 2017, Susan Bies Lecture on Economics and Public Policy Rand Journal of Economics, Critical Loss: Let's Tell the Whole Story, Other transactions such as conversion of derivative security or exercise of options are not included. other investors money - over the course of their dealings with Madoff, rendering them among the largest beneficiaries of Madoffs Ponzi scheme, he said in a court filing. The government's star witness in its suit to stop AT&T's proposed purchase of Time Warner took the stand in a marathon court session Wednesday. Most of his money comes from his seven-figure radio contract with Premiere while he pads his paycheck with book earnings and low returns from his struggling media company, TheBlaze. , For the two years immediately prior to that, he was the Deputy Assistant Attorney General for Economics at the Antitrust Division of the U.S. Department of Justice; he also held that position during 1995 to 1996. In order to support the lie that BLMIS was operating a legitimate investment advisory business, BLMIS created and disseminated fictitious account statements that, among other things, showed trades that never actually took place. Infamous fraudster Bernie Madoff died in federal prison on Wednesday at age 82. All earnings estimates are from June 1, 2017, through June 1, 2018. Another set of feeder funds that steered client money into Madoffs coffers, the Kingate Funds invested some $1.7 billion with Bernie Madoff over a 14-year period before his arrest. a net For almost 40 years, Carl Shapiro invested hundreds of millions of dollars with Bernie Madoff but withdrew far more, said U.S. Attorney Preet Bharara. with Jonathan Baker, sale National Bureau of Economic Research, Antitrust, The Shapiro's contributions include; Boston Museum of Fine Arts, Wellesley College, Beth Israel Deaconess Medical Center, Boston Symphony Orchestra, Kravis Center for the Performing Arts, the Norton Museum of Art, and the Palm Beach Opera, among other institutions. He is a Senior Consultant with Charles River Associates and has consulted extensively for a wide range of private clients as well as for the U.S. Department of Justice and the Federal Trade Commission. Shapiro has published extensively in the areas of industrial organization, competition policy, patents, the economics of innovation, the design and use of patents, and competitive strategy. Journal of Theoretical Economics: Policies and Perspectives, Upward Pricing Pressure in Horizontal Merger Analysis: Carl has been in the spotlight since his real-life story was included in the Netflix true-crime documentary Madoff: The Monster of Wall Street. Shapiro earned his Ph.D. in Economics at M.I.T. The $145 million lost by the Carl & Ruth Shapiro Family Foundation in the Madoff fraud represented almost half its total assets, the Boston Globe reported in 2008. They gave $25 million, the largest gift in Brandeis history, to build the 2003 Carl and Ruth Shapiro Campus Center; they funded the admissions center and endowed a chair in international finance held by Peter Petri, dean of the International Business School (formerly the Graduate School of International Economics and Finance). Carl Shapiro (born 20 March 1955) is an American economist and academic who serves as the Transamerica Professor of Business Strategy at the University of California, Berkeley's Haas School of Business. with Ken Heyer, 2018 present, Professor of the Graduate School The private 30-year-old is reportedly single and is $800 million richer than a year ago thanks to a rise in the stock price of Enterprise Products Partners and a generous dividend plan. University of California with Ken Heyer and Jeffrey Wilder, Working Paper, Patent Remedies, with Joseph Farrell, with Hal R. Varian, Harvard Business School Press, The Art of Standards Wars, (August 2016) Carl Shapiro (born 20 March 1955) is an American economist and academic who serves as the Transamerica Professor of Business Strategy at the University of California, Berkeley 's Haas School of Business. Gurus may be added or dropped from the GuruFocus site at any time. The shock jock isonthe third year of his eight-figure contract with SiriusXM. The couple had three daughters, Ellen Jaffe, Linda Waintrup, and Rhonda Zinner, who died in 2014. published by the Harvard Business School Press. It reflected a 74 percent drop in income, to $1.2 million. American Economic Review, Standard Setting, Patents, and Hold-Up, Carl Shapiros family foundation changed its taxes on May 20, 2009, to reflect more than $140 million in losses in 2005, resulting in a 74 percent drop in income to $1.2 million. (Picower denied the claims, though Madoff later said he believed Picower must have known.) Lessons from the AT&T/Time Warner Case, Add articles to your saved list and come back to them any time. Carl J. Shapiro, the Boston philanthropist and onetime "cotton king" of New York City's garment district who forfeited more than half a billion dollars in the aftermath of Bernard Madoff's. U.S. Attorney Bharara also thanked the Securities and Exchange Commission for their assistance. Click here to see the complete history of Carl Shapiros form 4 insider trades. with Michael L. Katz, How Antitrust Law Can Make FRAND Commitments More Effective. At 108, Carl J. Shapiro, H'03, who passed away on March 7, was Brandeis' most generous benefactor, a giant in the history of the university he had supported since its earliest days. Not everyone simply lost money, however. in 1981, taught at Princeton University during the 1980s, and has been on the faculty at UC Berkeley since 1990. Though Beck recently claimed toThe Hollywood Reporter that the company has been profitable over the past 12 months despite having bled some red ink, Forbes estimates that his earnings from TheBlaze took a hit. . CRA International Inc is a U.S.-based advisory firm that provides economic, financial, and management consultancy services. The combined net worth of the 2020 class of the 400 richest Americans was $3.2 trillion, up from $2.7 trillion in 2017. Ben obtained his acclaim and fortune as the creator of "The Daily Wire". Handbook of Law and Economics, Volume 2, Patent Hold-Up and Royalty Stacking, He also is the Transamerica Professor of Business Strategy Emeritus at the Haas School of Business. So far Irving Picard, an attorney who is overseeing the liquidation of Madoffs firm, has clawed back more than $14.4 billion in recoveries and settlement agreements. Though the merger reduces competition between TheBlaze and CRTV for the same audience, its uncertain whether it will help Beck and Levins fortunes. no insider transaction in CRA International Inc (CRAI). [2] In January 2003 Shapiro received Brandeis' highest honor, an honorary degree, citing an "unshakable commitment to making the world a better place". At Haas since 1990 Antitrust Law Journal, Activating Actavis, Beth Healy, "Broker Jaffe Ordered to Appear at Madoff-Related Hearing", https://en.wikipedia.org/w/index.php?title=Carl_J._Shapiro&oldid=1148985477, Businessman, woman's clothing company founder and philanthropist, This page was last edited on 9 April 2023, at 13:06. Thanks to a Netflix documentary, people are becoming familiar with Carl even though he has passed away. a net American Economic Review Papers & Proceedings, Antitrust and Innovation, Exclusivity in Network Industries, We have estimated George Shapiro's net worth , money, salary, income, and assets. The Rhonda S. and Michael J. Zinner Forum at the Heller School was endowed by Mr. Shapiro and serves as a centerpiece of the Heller community. Besides being a businessman, Carl also owned an NGO and was an investor and philanthropist. They had three daughters: Rhonda Shapiro Zinner, Ellen Shapiro Jaffe, and Linda Shapiro Waintrup. President Obama established the interagency Financial Fraud Enforcement Task Force to wage an aggressive, coordinated, and proactive effort to investigate and prosecute financial crimes. Glenn Beck succumbs to the imperatives of the conservative entertainment complex, tweeted Republican pundit David Frum, a former White House speechwriter for George W. Bush. and Since at least the late 1960s, Carl J. Shapiro was an investor in BLMIS, holding an account in his own name and controlling accounts held by various related individuals and entities. The Shapiros philanthropy has had an enduring impact on hospitals, higher education, museums and the performing arts in Boston, Palm Beach, and beyond. The Actavis Inference: Theory and Practice. The charitable foundation that Shapiro ran with his wife, Ruth, had an additional $US145 million in assets on Madoffs books. The investigation of prodigious fraud, like that of Madoff, remains one of the FBI's top priorities. with Aaron Edlin, Scott Hemphill, and Herbert Hovenkamp, Beck made the news this week after announcing a merger with CRTV, best known for its host Mark Levin, who foundedLevinTV, the flagship program of CRTV. in How the Chicago School Overshot the Mark: This biography of an American economist is a stub. Journal of Theoretical Economics: Policies and Perspectives, Upward Pricing Pressure and Critical Loss Analysis, Shapiro, by then the only surviving member of the foursome, denied the allegation. This biography of an American business academic is a stub. the Director of CRA International Inc and owns about 36,490 shares of CRA International Inc (CRAI) stock worth over $4 Million. Currently GuruFocus does not have mailing address information for Carl Shapiro. Before Carl Shapiro 's death, his net worth was estimated at $1 to $2 million. with Hal R. Varian and Joseph Farrell, Cambridge University Press, Antitrust Analysis of Patent Settlements Between Rivals, Berkeley Technology Law Journal. Shapiro has been editor and co-editor of the Journal of Economic Perspectives and a Fellow at the Center for Advanced Study in the Behavioral Sciences, among other honors. His current research interests include competition policy, the economics of innovation, the design and use of patents, housing finance, and energy and environmental economics. Ben earned his reputation and wealth through his social media following, a career as a lawyer, and the founder of his internet show, "The Daily Wire." Coming up next Early life Education "Nomination for Council of Economic Advisers", https://faculty.haas.berkeley.edu/shapiro/shapirocv.htm, FT Interview with Carl Shapiro and Hal Varian, https://en.wikipedia.org/w/index.php?title=Carl_Shapiro&oldid=1109765223, Massachusetts Institute of Technology School of Science alumni, University of California, Berkeley alumni, United States Council of Economic Advisers, United States Department of Justice officials, American business academic biography stubs, Wikipedia articles with possible conflicts of interest from August 2016, Articles with a promotional tone from August 2016, BLP articles lacking sources from August 2016, Articles with multiple maintenance issues, Articles with unsourced statements from January 2008, Creative Commons Attribution-ShareAlike License 3.0, This page was last edited on 11 September 2022, at 19:08. Carl SHAPIRO | Cited by 25,552 | of University of California, Berkeley, CA (UCB) | Read 84 publications | Contact Carl SHAPIRO Protecting Competition in Digital Markets, Ruth and Carl Shapiro. In summary, during the past 3 months, insiders sold 6,000 shares of CRA International Inc (CRAI) in total and bought 0 shares, with a net with Robert E. Litan, in Youre dealing with two disloyal people to the Trump train. The distribution of funds to victims will be administered by Irving H. Picard in his dual capacities as the newly-appointed special master to assist the department in connection with the victim remission proceedings, and as the court-appointed trustee overseeing the liquidation of Bernard L. Madoff Investment Securities LLC, under the Securities Investor Protection Act. Carl J. Shapiro, the Boston philanthropist and onetime "cotton king" of New York City's garment district who forfeited more than half a billion dollars in the aftermath of Bernard Madoff's. CRA International generates almost all its revenue from the United States and the United Kingdom. The Daily Wire . Carl's mailing address filed with the SEC is 19 TOLAN WAY, , LAFAYETTE, CA, 94549. . with Fiona Scott Morton, Howard Stern, on the third year of his eight-figure contract with SiriusXM, earned an estimated $90 million in our 12-month scoring period, before taxes and fees. Shapiro's disclosure of entities providing significant financial support. with Mark A. Lemley, Antitrust Law Journal, Detecting and Reversing the Decline in Horizontal Merger Enforcement, Carl Shapiro is a Professor at Berkeley Haas and the Department of Economics at the University of California at Berkeley. Date Written: October 24, 2017. The Shapiro Admissions Center is the gateway for the next generation of Brandeis students. Yale Law Journal . with Jeremy Bulow, in The settlement contains no finding or admission of fault against Shapiro or his family; the settlement does not, however, release any party from criminal liability. David T Shapiro owns about 2,964 units of Vail . with Louis Kaplow, Chapter 15, in Mr. Shapiro has been in the spotlight after getting his real-life documented in the Netflix true-crime documentary, Madoff: The Monster of Wall Street. The controversial Fox news star has made headlines for advertiser boycotts, being Michael Cohens Client No. in 1981, taught at Princeton University during the 1980s, and has been on the faculty at UC Berkeley since 1990. Under the terms of todays settlement, and a related settlement submitted to the U.S. Bankruptcy Court for the Southern District of New York, Picard will administer $550 million of the funds being returned to investors by the Shapiro family through the SIPA liquidation proceedings, and the remaining $75 million through the departments remission or mitigation process. CRA International Inc (CRAI) 2018 present, Transamerica Professor of Business Strategy Emeritus, Haas School Marianne Shapiro, Lisa Cull, Jason Shapiro, Helene Shapiro and Hermeine Shapiro, and many others are family members and associates of Carl. In 2019, Kingate agreed to return $860 million to Madoff victims, about 93% of the $926.4 million the firm withdrew from their accounts at Madoffs firm. Network Law Review, What Next for the Horizontal Merger Guidelines?, Robert Shapiro Net Worth - $50 million Currently a senior partner at Glaser, Weil, Fink, Jacobs, Howard, Avchen, and Shapiro, LLP, Robert Shapiro graduated from Loyola Law School in 1968 and began a career as a criminal attorney. David Shapiro GLTO stock SEC Form 4 insiders trading Their previous accounting firm, Konigsberg, Wolf & Co., was the firm Madoff recommended to many clients.[11]. Information Rules has received critical acclaim for its application of economic principles to the Information Economy and has been widely read by managers and adopted for classroom use. Jaffe paid commissions to financial advisers who steered cash to Madoff's fund. The task force includes representatives from a broad range of federal agencies, regulatory authorities, inspectors general, and state and local law enforcement who, working together, bring to bear a powerful array of criminal and civil enforcement resources. See his 2009 paper, Microsoft: A Remedial Failure.. With his wife, Ruth, who died in 2012, Shapiro became a leading benefactor of arts and education in the Boston area. An American conservative political commentator, author, columnist, lawyer and radio host is Ben Shapiro. of 6,000 shares. In a statement through their lawyer, Stephen Fishbein, the family members said they were pleased the settlement would allow substantial funds to be distributed to those hurt most by Madoffs fraud., Shapiro and his family were never charged with wrongdoing, and they denied legal liability. , Testimony Before the Antitrust Modernization Commission, Probabilistic Patents, American Law and Economics Review, Recapture, Pass-Through, and Market Definition, 1994-2017, Transamerica Professor of Business Strategy, Haas School The settlement contains no finding or admission of fault against Shapiro or his family; the settlement does not, however, release any party from criminal liability. Shapiro was among a group of investors who experienced potential losses between $100 million and $1 billion in the Bernard Madoff hedge fund scheme. The estimated Net Worth of David Shapiro is at least $14.5 Million dollars as of 1 May 2019. Carl Shapiro around $500,933. VF Corp, formerly known as Vanity Fair Mills, acquired Kay Windsor in 1971. Details can be seen in Carl Shapiro's Latest Holdings Summary section. NEW YORKCarl J. Shapiro and various related people and entities have agreed to forfeit $625 million to the United States, all of which will be made available to the victims of the fraudulent investment advisory business which was owned and operated by Bernard L. Madoff. [13], Shapiro was married for 73 years to Ruth Gordon, who was also Jewish, until her death in 2012; they had three daughters: Rhonda Shapiro Zinner, Ellen Shapiro Jaffe, and Linda Shapiro Waintrup. Howard Stern is this year's highest-paid radio host, with a $90 million haul. 9,351 shares on January 16, 2007, which For the two years immediately prior to that, he was the Deputy Assistant Attorney General for Economics at the Antitrust Division of the U.S. Department of Justice; he also held that position during 1995-96. Mr. Shapiro owns over 6,665 units of Equity Residential Properties Trust stock worth over $1,174,631 and over the last 17 years he sold EQR stock worth over $1,848,114. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Carl Shapiro's Net Worth Was Estimated at Around $1-$2 Million Before His Death! It has been reported that a criminal investigation has commenced regarding his alleged complicity in the Madoff affair. [5], Jaffe "worked the Palm Beach, Florida circuit, and attracted many Palm Beach Country Club members as investors". But by 2008, when Madoffs fraud unravelled, he was delivering eye-opening returns to his clients only by using money from new investors to pay off older ones - the textbook definition of a Ponzi scheme. Antitrust Magazine, How Will the FTC Evaluate Vertical Mergers?, Carl J. Shapiro and Others Agree to $625 Million Civil Forfeiture for Victims of Bernard L. Madoffs Ponzi Scheme Irving H. Picard to Serve as Department of Justice Special Master for Returning Forfeited Funds to Victims. Carl Shapiro currently owns a total of 1 The most-watched cable news host scored 5.9 million viewers with his exclusive interview with the Commander-in-Chief after the historic Singapore summit.