BEVERLY HILLS—Jordan McGraw, 34, the son of talk show host Dr. Phil, recently purchased a mansion in the Trousdale Estates of Beverly Hills for $10 million.
Following his engagement to Daily Pop host on E! News and reality TV star, Morgan Stewart, the musician received his new digs as a wedding present from his parents, Phil and Robin, who ponied up the dough for the 6,500 square foot property.
Other specs for the house include five bedrooms, 6.5 bathrooms, front facing two-car garage, gated security and a grassy front yard lawn. They also have three guest bedrooms along with two walk-in closets, which are right next to two bathrooms, as well.
The house was originally developed and built by the Woodbridge Group. One of their former developers, Robert Shapiro, is currently serving 25 years in jail after running a $1.2 billion ponzi scheme, which defrauded over 7,000 property investors. That operation is now defunct, but the company was kept intact, choosing to purchase the property for $5.2 million in 2015, and making it into what it is today.
When it came to raising money to commit the fraud, the Woodbridge Group promised to their investors — a majority of whom were elderly, and retired — that the money raised would be put towards constructing and purchasing luxury homes, which would yield high returns. Over 2,600 of these investors used their retirement money to fund this ponzi scheme.
All of the money taken from unsuspecting investors ballooned to $400 million, with Shapiro, and his wife, taking $25-95 million of it for themselves to bankroll their lifestyle.
