Stoltmann Law Offices continues to investigate the Woodbridge Group of Companies, a southern California real estate and investment company that allegedly and fraudulently raised over $1 billion from investors. The Securities and Exchange Commission (SEC) on Thursday accused Robert Shapiro, its Florida-based fund owner of running a $1.2 billion ponzi scheme that lasted the better part of five years. Shapiro, the company’s president, is being accused of defrauding more than 8,400 investors out of $1.2 billion. The SEC was “investigating 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 Woodbridge’s website, the group, Woodbridge Wealth, sells three types of investments: first position commercial mortgages with an annual yield of 5%, secondary market annuities with above average, risk adjusted yields, and a commercial bridge loan fund that potentially returns 6%. According to the Financial Industry Regulatory Authority (FINRA) website, BrokerCheck, there is no broker-dealer named Woodbridge Wealth.
The posting on this site are mere OPINIONS and NOT statements of fact in any way whatsoever. The information should not be relied upon and there have been no findings made against the firms or individuals referenced on this site. In addition, this Blog is made available for educational purposes only and incorporates information from the web as well as to give you general information and a general understanding of the law, not to provide specific legal advice. By using this blog site you understand that there is no attorney client relationship between you and Stoltmann Law Offices (161 N Clark Street 16th Floor Chicago, IL 60601). The Blog opinions should not be used as a substitute for competent legal advice from a licensed professional attorney in your state.
PLEASE NOTE THIS IS ADVERTISING AND IT IS NOT A NEWSPAPER ARTICLE OR POST FROM AN INDEPENDENT OR NON-BIASED, NEWS SITE, NEWS SOURCE OR NEWSPAPER.