Certified Financial Planner Violations

The Woodbridge Group of Companies LLC (“Woodbridge”) operated a Ponzi scheme selling unregistered financial planner victimizing thousands of people and losing millions of dollars.

On August 20, 2018, the Securities and Exchange Commission (SEC) charged 5 people and 4 companies associated with the Woodbridge Group of Companies LLC of selling unregistered securities. An investigation by the SEC reveals that the company has been operating a widespread Ponzi scheme, and owners have generated more than $1.2 billion by selling more than $240 million in unregistered securities to over 1,600 retail investors. Many of these individuals were represented by financial advisors, insurances agents, and other unregistered broker-dealers. After Woodbridge took a downward turn and declared bankruptcy in December 2017, investors’ monthly interest payments were halted, and many of them have not received back the amount of their investment principal.

It is now anticipated those victimized by Woodbridge may be able to recover upwards of 60% of their original investment through the bankruptcy proceedings, however, when millions of dollars are at stake, 60% is not enough.

The SEC has brought charges against five unregistered broker-dealers in Florida. Despite not being registered as brokers and lacking the necessary permissions to conduct such transactions, these individuals personally gained millions of dollars on commissions from selling unregistered Woodbridge securities, which they advertised as being “safe” investments.

The unregistered broker-dealers for Woodbridge allegedly engaged in aggressive solicitation and marketing tactics. Such tactics in addition to the licensing violations of the unregistered brokers lead to viable claims for our clients.

We understand how important investments can be and how falling victim to a scheme such as Woodbridge can have devastating effects. At Jorgensen, Brownell & Pepin, P.C., our attorneys have years of experience representing people who have lost money or experienced other damages due to inappropriate or illegal behavior by those charged with managing their finances. When you put your hard-earned money in the hands of a broker, investor, advisor, or financial planner, you trust them to operate ethically and in accordance with the law.

If you have been victimized by the Woodbridge scheme or something similar call us today.