What’s the problem?
The Securities and Exchange Commission (SEC) is investigating the Woodbridge Group of Companies, a Sherman Oaks, CA.-based real estate and investment firm, to determine whether it has been operating as a fraud, according to the Wall Street Journal. The company’s former president and CEO, Robert Shapiro, is also being investigated.
SEC is “investigating the offer and sale of unregistered securities, the sale of securities by unregistered brokers and the commission of fraud in connection with the offer, purchase and sale of securities,” according to an Oct. 31 filing.
What is the Woodbridge Group?
The Woodbridge Group Enterprise operates through a group of affiliated companies that are all directly or indirectly owned by RS Protection Trust, according to the company’s website. Robert Shapiro or members of his family are trustees, the papers show.
“Although RS Protection Trust retains its economic interests in the debtors, it has relinquished its control rights over them to independent third parties,” the company wrote in court papers filed on Dec. 4, 2017.
Massachusetts Broker Suspended After Illegal Sale of Woodbridge Wealth Notes
In May 2016, the Financial Industry Regulatory Authority (FINRA) suspended Frank John Capuano, a registered Massachusetts broker, after he improperly sold more than $1 million in Woodbridge Wealth notes to investors. According to the complaint, Capuano, who at the time was employed at Royal Alliance Associates, took in $30,000 in commission from the illegal sales, even though the mortgage notes in question did not meet the standards required by his member firm.
Why Our Law Firm Is Filing Individual Lawsuits Opposed to a Class Action
Although we are a nationally-recognized class action firm, Schmidt & Clark, LLP, has decided against the filing of such a claim in the Woodbridge Group real estate fraud litigation, and are only filing individual claims for people who invested in the firm. Our lawyers made this decision in the best interest of our clients, as class action lawsuits in these types of cases often result in settlement offers that amount to a small fraction of the compensation possible with an individual suit in exchange for an expedited litigation process.
Do I Have a Woodbridge Group Real Estate Bankruptcy Lawsuit?
The Class Action Litigation Group at our law firm is an experienced team of trial lawyers that focus on the representation of plaintiffs in Woodbridge Group lawsuits. We are handling individual litigation nationwide and currently accepting new real estate fraud cases in all 50 states.
Free Case Evaluation: Again, if you or a loved one was an investor in the Woodbridge Group of Companies, LLC, you should contact our law firm immediately. You are entitled to immediate relief by filing a claim in the bankruptcy proceedings, and our lawyers can help.