Articles Tagged with Woodbridge fraud attorney

shutterstock_143685652-300x300The law offices of Gana Weinstein LLP continue to investigate the Woodbridge Group of Companies and the Woodbridge Mortgage Funds (Woodbridge).  The Securities and Exchange Commission (SEC) has alleged that the Woodbridge operated a billion-dollar Ponzi scheme ensnaring about 8,400 investors. Woodbridge solicited hundreds of disreputable insurance agents and investment brokers to sell its false notes that the firm claimed to be backed by mortgages.  In plain sight to regulators, Woodbridge engaged in a nationwide investment fraud by offering the sale of unregistered securities.

According to BrokerCheck records kept by The Financial Industry Regulatory Authority (FINRA) John Ernst (Ernst) appears to be an agent for Woodbridge fraudulent note sales.  Ernst was formerly associated with Foresters Equity Services, Inc. (Foresters Equity) out of the firm’s San Diego, California office location.  In November 2017 the State of Wisconsin opened an investigation into Ernst in connection with potential sales of Woodbridge promissory notes.  In addition, Foresters Equity terminated Ernst in February 2018 stating that he violated the firm’s policies and procedures by engaging in an undisclosed private securities transaction away from the broker dealer without approval.

Federal securities laws and the FINRA rules require firms to monitor and supervise its employees, like Ernst, in order to detect and prevent brokers from offering investments in this fashion.  In order to properly supervise their brokers each firm is required to have procedures in order to monitor the activities of each advisor’s activities and interaction with the public.  Supervisory failures allow brokers to engage in unsupervised misconduct that can include all manner improper conduct including recommending fraudulent investments.

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shutterstock_155271245-300x300The law offices of Gana Weinstein LLP continue to investigate the Woodbridge Group of Companies and the Woodbridge Mortgage Funds (Woodbridge).  The Securities and Exchange Commission (SEC) has alleged that the Woodbridge operated a billion-dollar Ponzi scheme ensnaring about 8,400 investors. Woodbridge solicited hundreds of disreputable insurance agents and investment brokers to sell its false notes that the firm claimed to be backed by mortgages.  In plain sight to regulators, Woodbridge engaged in a nationwide investment fraud by offering the sale of unregistered securities.

According to BrokerCheck records kept by The Financial Industry Regulatory Authority (FINRA) Alan New (New) appears to be an agent for Woodbridge fraudulent note sales.  New was formerly associated with NYLife Securities LLC (NYLife Securities) out of the firm’s Fort Wayne, Indiana office location and is currently still registered with advisory firm Synery Investment Services LLC.  At least six customers have accused New of selling them the fraudulent Woodbridge investment.

Federal securities laws and the FINRA rules require firms to monitor and supervise its employees, like New, in order to detect and prevent brokers from offering investments in this fashion.  In order to properly supervise their brokers each firm is required to have procedures in order to monitor the activities of each advisor’s activities and interaction with the public.  Supervisory failures allow brokers to engage in unsupervised misconduct that can include all manner improper conduct including recommending fraudulent investments.

shutterstock_185190197-300x199The law offices of Gana Weinstein LLP continue to investigate the Woodbridge Group of Companies and the Woodbridge Mortgage Funds (Woodbridge).  The Securities and Exchange Commission (SEC) has alleged that the Woodbridge operated a billion-dollar Ponzi scheme ensaring about 8,400 investors. Woodbridge solicited hundreds of disreputable insurance agents and investment brokers to sell its false notes that the firm claimed to be backed by mortgages.  In plain sight to regulators, Woodbridge engaged in a nationwide investment fraud by offering the sale of unregistered securities.

One of Woodbridge’s agents was Jerry Raines (Raines) formerly associated with HD Vest Investment Services (HD Vest).  A dozen clients have alleged that Raines recommended Woodbridge causing a near complete loss of their investments.  Federal securities laws and the FINRA rules require firms to monitor and supervise its employees, like Raines, in order to detect and prevent brokers from offering investments in this fashion.  In order to properly supervise their brokers each firm is required to have procedures in order to monitor the activities of each advisor’s activities and interaction with the public.  Supervisory failures allow brokers to engage in unsupervised misconduct that can include all manner improper conduct including recommending fraudulent investments.

The signs that the Woodbridge Funds was a giant fraud debacle ware all apparent.  Woodbridge and its agents have been sanctioned by multiple state regulators for offering unregistered securities.  Going back to May 2015, the Massachusetts Securities Division imposed a bar on the Woodbridge Mortgage Investment Funds and ordered the companies to permanently cease and desist from selling unregistered or non-exempt securities in the Commonwealth of Massachusetts.

shutterstock_172399811-297x300The law offices of Gana Weinstein LLP continue to investigate the Woodbridge Group of Companies and the Woodbridge Mortgage Funds (Woodbridge).  The Securities and Exchange Commission (SEC) has alleged that the Woodbridge operated a billion-dollar Ponzi scheme ensnaring about 8,400 investors. Woodbridge solicited hundreds of disreputable insurance agents and investment brokers to sell its false notes that the firm claimed to be backed by mortgages.  In plain sight to regulators, Woodbridge engaged in a nationwide investment fraud by offering the sale of unregistered securities.

According to BrokerCheck records kept by The Financial Industry Regulatory Authority (FINRA) Robin “Rob” Reading (Reading) appears to be an agent for Woodbridge fraudulent note sales.  Reading was formerly associated with Sigma Financial Corporation (Sigma) out of the firm’s Highland, Michigan office location.  Thereafter, Reading was a registered advisor with Emerald Blue Advisors and Gradient Advisors, LLC.

The State of Michigan sanctioned Reading finding that Reading offered or sold eight Woodbridge securities in the State of Michigan which were not federally covered, exempt from registration, or registered, in violation of the securities laws.

shutterstock_184149845-300x246The law offices of Gana Weinstein LLP continue to investigate the Woodbridge Group of Companies and the Woodbridge Mortgage Funds (Woodbridge).  The Securities and Exchange Commission (SEC) has alleged that the Woodbridge operated a billion-dollar Ponzi scheme ensnaring about 8,400 investors. Woodbridge solicited hundreds of disreputable insurance agents and investment brokers to sell its false notes that the firm claimed to be backed by mortgages.  In plain sight to regulators, Woodbridge engaged in a nationwide investment fraud by offering the sale of unregistered securities.

According to BrokerCheck records kept by The Financial Industry Regulatory Authority (FINRA) Frank Dietrich (Dietrich) appears to be an agent for Woodbridge fraudulent note sales.  Dietrich was formerly associated with Quest Capital Strategies, Inc. (Quest Capital) out of the firm’s Lake Forest, California office location.  At least seven customers have accused Dietrich of selling them the fraudulent Woodbridge investment.  In addition, Qeust Capital terminated Dietrich in March 2018 for failing to disclose his involvement with Woodbridge.

Federal securities laws and the FINRA rules require firms to monitor and supervise its employees, like Dietrich, in order to detect and prevent brokers from offering investments in this fashion.  In order to properly supervise their brokers each firm is required to have procedures in order to monitor the activities of each advisor’s activities and interaction with the public.  Supervisory failures allow brokers to engage in unsupervised misconduct that can include all manner improper conduct including recommending fraudulent investments.

shutterstock_180342155-300x200The law offices of Gana Weinstein LLP continue to investigate the Woodbridge Group of Companies and the Woodbridge Mortgage Funds (Woodbridge).  The Securities and Exchange Commission (SEC) has alleged that the Woodbridge operated a billion-dollar Ponzi scheme ensnaring about 8,400 investors. Woodbridge solicited hundreds of disreputable insurance agents and investment brokers to sell its false notes that the firm claimed to be backed by mortgages.  In plain sight to regulators, Woodbridge engaged in a nationwide investment fraud by offering the sale of unregistered securities.

One of Woodbridge’s agents appears to be Dee Dee Brooks (Brooks) formerly associated with Signator Investors, Inc. (Signator Investors).  In June 2018 Brooks resigned from Signator Investors while under investigation concerning her involvement with the sale of unregistered securities.  Brooks also operated an insurance company called Surf City Insurance Services, Inc. (Surf City) which may have been used by Brooks to conceal investments.  Federal securities laws and the FINRA rules require firms to monitor and supervise its employees, like Brooks, in order to detect and prevent brokers from offering investments in this fashion.  In order to properly supervise their brokers each firm is required to have procedures in order to monitor the activities of each advisor’s activities and interaction with the public.  Supervisory failures allow brokers to engage in unsupervised misconduct that can include all manner improper conduct including recommending fraudulent investments.

The signs that the Woodbridge Funds was a giant fraud debacle ware all apparent.  Woodbridge and its agents have been sanctioned by multiple state regulators for offering unregistered securities.  Going back to May 2015, the Massachusetts Securities Division imposed a bar on the Woodbridge Mortgage Investment Funds and ordered the companies to permanently cease and desist from selling unregistered or non-exempt securities in the Commonwealth of Massachusetts.