SEC Accuses Woodbridge Group of Companies of Running a $1.2B Ponzi Scheme

Posted on December 21st, 2017 at 2:42 PM
SEC Accuses Woodbridge Group of Companies of Running a $1.2B Ponzi Scheme

From the Desk of Jim Eccleston at Eccleston Law LLC:

The SEC has filed a complaint against Robert H. Shapiro and his company, Woodbridge Group of Companies LLC (Woodbridge) of Boca Raton, Florida for allegedly defrauding more than 8,400 investors.

According to the SEC, Mr. Shapiro through Woodbridge, used new investor money to pay the returns owed to existing investors in a Ponzi-scheme like manner. Meanwhile, Mr. Shapiro and his family spent an exorbitant amount of investor funds for their personal use, such as to pay for luxury automobiles, jewelry, country club memberships, fine wine, and chartering private planes.

Investors likewise need to be concerned about Woodbridge and the future of their debt or equity investments. We are currently investigating Woodbridge to determine if there is any recourse to recover investment losses. If you had dealings with Woodbridge, Robert Shapiro or a related entity and suffered losses, you may be able to recover your investment losses due to the fraud and/or securities law violations. Contact us at 312.332.0000 for an initial, no charge consultation.

The attorneys of Eccleston Law LLC represent investors and advisors nationwide in securities and employment matters. The securities lawyers at Eccleston Law also practice a variety of other areas of practice for financial advisors including Broker Litigation & ArbitrationStrategic Consulting ServicesRegulatory  MattersTransition Contract Review, and much more. Our attorneys draw on a combined experience of nearly 65 years in delivering the highest quality legal services. If you are in need of legal services, contact us to schedule a one-on-one consultation today.

Related Attorneys: James J. Eccleston

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