$1.2 BILLION FRAUD–WOODBRIDGE DIRECTORS CHARGED.

On April 11, 2019, the SEC (Securities and Exchange Commission) charged two former directors of investments at Woodbridge Group of Companies LLC related to their participation in a massive Ponzi scheme. Ivan Acevedo and Dane R. Roseman, were charged, along with Robert H. Shapiro (who was Woodbridge’s owner). Previously, a number of others, principally unregistered securities brokers, were charged. In prior SEC charges, the SEC charged Woodbridge and Shapiro, and Woodbridge’s unlicensed brokers. A federal court in Florida in January 2019 ordered Woodbridge and Shapiro together to pay $1 billion for operating this Ponzi scheme. Continue reading

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