Two Signator Investors brokers, David and Sandra Ferwerda, were accused of selling Woodbridge Group of Companies investments to investors. The two were associated with Signator out of the firm’s Grand Rapids, Michigan branch. David Ferwerda was terminated from the firm for his involvement in the sale of unapproved outside investments in violation of firm policy in March 2018. In May 2015, the Massachusetts Securities Division imposed a bar on the Woodbridge Mortgage Investments Funds and ordered the companies to permanently cease and desist from selling unregistered or non-exempt securities in the Commonwealth of Massachusetts. The Texas State Securities Board also issued an emergency cease and desist order against Woodbridge Fund 3, the firm’s owner, Robert Shapiro and other parties and ordered them to stop engaging in fraud in connection with the sale of securities in the state of Texas. Arizona also filed a complaint against Woodbridge for selling unregistered securities through unregistered brokers. Woodbridge entities and funds include the following:
WMF Management, LLC
Woodbridge Group of Companies, LLC
Woodbridge Mortgage Investment Fund 1, LLC
Woodbridge Mortgage Investment Fund 2, LLC
Woodbridge Mortgage Investment Fund 3, LLC
Woodbridge Mortgage Investment Fund PA, LLC; and
Woodbridge Group of Companies, LLC (DBA Woodbridge Wealth)
Brokers like David and Sandra Ferwerda recommended and sold investment in the Woodbridge Group of Companies to investors without taking into account their age, net worth, investment objectives and risk tolerance, among other factors. Many investors lost large sums of money. Signator Investors can be sued in the FINRA arbitration forum on a contingency fee basis to recover investment losses suffered with David and Sandra Ferwerda.
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