The Securities and Exchange Commission (SEC) has announced that a federal court in Florida has fined Woodbridge Group of Companies LLC and its former owner Robert H. Shapiro $1 billion. They have been charged with operating a Ponzi scheme that targeted retail investors. Woodbridge and its 281 related companies will have to pay $892 million…
Read moreThe Securities and Exchange Commission (SEC) has announced that it has charged 13 individuals and 10 companies for unlawfully selling securities of Woodbridge Group of Companies LLC to retail investors. The SEC has now charged 18 of Woodbridge’s highest-earning unregistered sales agents who sold more than $400 million of its securities to retail investors,” said Eric…
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The U.S. Securities and Exchange Commission (SEC) has announced charges and an asset freeze against a group of unregistered funds and their owner who allegedly bilked thousands of retail investors, many of them seniors, in a $1.2 billion Ponzi scheme. SEC investigators filed this action to prevent further dissipation of investor assets after obtaining court orders in September and November in subpoena enforcement actions that forced…
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