On December 21, 2017 the SEC announced charges against the Woodbridge group and its owners who allegedly ran a 1.2 billon dollar Ponzi scheme, which was formally headquartered in Boca Raton, Florida. According to the SEC’s Complaint which was unsealed today in the United States District Court for the Southern District of Florida, the Woodbridge Group of Companies and its owner, Robert H. Shapiro, allegedly defrauded over 8,400 investors, most of which were seniors. The unregistered securities sold were in the form of notes which allegedly invested in real estate and promised investors a return of 5-10% annually. The original litigation release from the SEC can be found here: https://www.sec.gov/news/press-release/2017-235
If your financial advisor recommended or sold to you any investments offered by Woodbridge Group of Companies, please call our lawfirm at (561) 278-6707. Scarlett & Hirsch, P.A., located in Boca Raton, has over 40 years of combined experience representing investors recover money as a result financial fraud. We handle all securities matters on a contingency fee basis, which means we only get paid if we are successful in recovering your losses. Please contact us for a free consultation.