Need a Funder or Vendor? START HERE

Results 1 to 4 of 4
  1. #1
    Senior Member Reputation points: 337045
    Join Date
    Mar 2015
    Location
    Rock Ridge
    Posts
    3,453

    Fyi

    Former Woodbridge CEO fined $120M by SEC in alleged Ponzi scheme



    Robert Shapiro, the former head of Woodbridge Group of Companies, agreed to pay $120 million to the U.S. Securities and Exchange Commission to settle allegations that he ran a $1.2 billion Ponzi scheme that defrauded more than 8,400 investors. Woodbridge Group once had about 140 employees in six states, including an office in Boca Raton. Woodbridge Structured Funding was also based in Boca Raton. (South Florida Business Journal)
    Hedley Lamarr......That's Hedley

  2. #2
    Senior Member Reputation points: 6639 gaxisa's Avatar
    Join Date
    Nov 2017
    Location
    New York, NY
    Posts
    171

    That's a hefty fine. And to think the SEC "only" fined Elon Musk $40 mil for a tweet about Tesla shares.
    Gary Axisa
    Blue Streak Capital, Inc.
    PM me for my email

  3. #3
    Senior Member Reputation points: 216519
    Join Date
    Feb 2017
    Posts
    3,334

    Everyone remember Riverdale Funding? Woodbridge was their sugar daddy.

  4. #4
    Karen37a
    Guest
    5 More people were charged by the SEC for funneling investors to them as well.

    They had seminars and advertised for investors on the radio etc without disclosures ( illegal )

    There is a civil suit against them for millions in commission they made and an additional breach of fiduciary duty charge to go along with it then can turn into a criminal charge.

    I do not know how Riverdale ever made that much money the rates were not competitive at all

    __

    Regulators also fined 2 Bank executives and charged them with money laundering and the bank secrecy act for touching the money...fined them 2.5 Million



Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  


INDUSTRY ANNOUNCEMENTS

BoA launches business loan marketplace
Quickbooks adds new LOC product
Dext Capital upsizes corp note


DIRECTORY