21
Dec
SEC files fraud lawsuit, asset freeze in alleged $1.2B Ponzi scheme
The Securities and Exchange Commission has filed a civil fraud lawsuit in Miami federal court against Robert H. Shapiro and Woodbridge Group of Companies LLC, formerly based in Boca Raton, Florida, over allegations that the business was a $1.22 billion “Ponzi scheme” that defrauded more than 8,400 investors.
The Dec. 20 lawsuit names Sherman Oaks, California, resident Shapiro, Woodbridge Group of Companies aka Woodbridge Wealth, RS Production Trust, WMF Management, Woodbridge Structured Funding…
Source: Arizona Business Journal
