SEC INVESTIGATING POTENTIAL REGULATORY ACTION AGAINST WOODBRIDGE GROUP OF COMPANIES

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SEC INVESTIGATING POTENTIAL REGULATORY ACTION AGAINST WOODBRIDGE GROUP OF COMPANIES

 subpoena enforcement action According to a subpoena enforcement action filed in federal court in Miami by the Securities and Exchange Commission, the SEC is investigating whether the Woodbridge Group of Companies, LLC of Sherman Oaks, California, has violated, or is violating, the antifraud, broker-dealer and securities registration provisions of federal securities laws. Woodbridge has received over $1 billion in investor funds from thousands of investors nationwide, possibly as the result of an ongoing fraud.

In August, the SEC served subpoenas on 235 limited liability companies in Delaware and Colorado connected to its investigation of Woodbridge and its President, Robert Shapiro. The SEC’s enforcement application alleges that those LLCs failed to produce any documents, even though their responses were due in late August.

The SEC release specifically notes that to date, the SEC has not concluded that any individual or entity associated with Woodbridge has violated federal securities laws. The SEC’s investigation, however, is ongoing into “the offer and sale of unregistered securities, the sale of securities by unregistered brokers and the commission of fraud in connection with the offer, purchase and sale of securities,” according to the SEC.

If you or someone you know was a customer of the Woodbridge Group of Companies and lost money as a result of an investment, please call the Frankowski Firm at 888.741.7503 or fill out this

By |November 7th, 2017|Fraud|

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