SEC sues 5 Florida agents over sales of unregistered securities in alleged Ponzi scheme

SEC sues 5 Florida agents over sales of unregistered securities in alleged Ponzi scheme

The U.S. Securities and Exchange Commission announced civil charges Monday against five Florida individuals and four companies for allegedly selling unregistered securities to investors who lost millions in the $1.2 billion Ponzi scheme involving the Woodbridge Group of Cos. Woodbridge filed for Chapter 11 bankruptcy protection from its creditors in early December. Weeks later, the…

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…