SEC, Woodbridge agree to new board to help steer alleged Ponzi firm through bankruptcy

SEC, Woodbridge agree to new board to help steer alleged Ponzi firm through bankruptcy

Federal regulators and the Woodbridge Group of Companies have agreed to a new board of directors to guide the business through bankruptcy court, in a deal that removes a roadblock to a potential recovery for victims of an alleged Ponzi scheme.. The agreement approved Tuesday by a U.S. bankruptcy court judge resolved weeks of legal…