User:Nofway/sandbox

Woodbridge Group of Companies is an allegded $1 Billion US Dollar Ponzi scheme run by real estate developer Robert H. Shapiro (not to be confused with Attorney Robert L. Shapiro). On December 4, 2017, Woodbridge and 236 related limited liability companies Woodbridge formed filed for Bankruptcy in the Delaware Federal Court. The Woodbridge Group of Companies filed for bankruptcy amid the departure of its chief executive and an investigation into potential securities fraud linked to $1 billion in investments. The Chapter 11 filing on Monday in U.S. Bankruptcy Court in Wilmington, Delaware, cited “unforeseen costs associated with ongoing litigation and regulatory compliance.” The U.S. Securities and Exchange Commission (SEC) has been probing whether Woodbridge defrauded investors who invested more than $1 billion. The agency also sought more information on about 236 limited liability companies Woodbridge formed, according to an October SEC court filing.

On December 21, 2017 the U.S. Securities and Exchange Commission said on Thursday it had sued luxury real estate developer Robert H. Shapiro (not to be confused with Attorney Robert L. Shapiro https://en.wikipedia.org/wiki/Robert_Shapiro_(lawyer) ) and his Woodbridge Group of Companies for allegedly operating a $1.2 billion Ponzi scheme targeting thousands of investors. According to the SEC’s complaint, Shapiro ran a “sham” business model that allegedly defrauded more than 8,400 investors, including many elderly, in unregistered Woodbridge funds. It said Shapiro promised 5 to 10 percent annual interest on money he said would be used for loans to commercial property owners paying 11 to 15 percent interest rates. “Mr. Shapiro is cooperating with the bankruptcy to protect the assets held for the benefit of Woodbridge’s stakeholders,” Ryan O’Quinn, a lawyer for Shapiro, said in e-mail. “He denies any allegation of wrongdoing and looks forward to his opportunity to defend himself in a court of law.”

Other reference articles: http://www.investmentnews.com/article/20171208/FREE/171209932/barred-florida-broker-goes-on-to-sell-millions-in-defunct-woodbridge Jump up ^ http://www.thinkadvisor.com/2015/05/04/state-regulator-goes-after-unregistered-rep-fines Jump up ^ https://www.prnewswire.com/news-releases/holmby-hills-historic-owlwood-estate-sold-for-90-million-300329587.html Jump up ^ https://www.aspentimes.com/news/woodbridge-under-sec-fraud-investigation-over-aspen-glen/ Jump up ^ https://www.pacermonitor.com/public/case/23146000/Woodbridge_Group_of_Companies,_LLC http://dm.epiq11.com/#/case/woodbridge/info http://www.sun-sentinel.com/business/fl-bz-woodbridge-investors-seek-money-back-2017122920171229-story.html

There are many webpages, most from Insurance Agents that are not licensed to sell Investments, still up. I will get to those later

Barry Kornfeld should have never been allowed to sell these: https://www.sec.gov/litigation/admin/2010/34-62466.pdf https://barrykornfeld.wordpress.com/2016/11/08/advantages-of-first-position-commercial-mortgage-notes/ http://www.fftaxgroup.us/about-us/ https://brokercheck.finra.org/individual/summary/1490377 "BARRY MICHAEL KORNFELD CRD#: 1490377 PR	Previously Registered Broker PR	Previously Registered Investment Adviser  Visit SEC Site BARRED FINRA has barred this individual from acting as a broker or otherwise associating with a broker-dealer firm. The SEC has barred this individual from acting as a broker or investment adviser or otherwise associating with firms that sell securities or provide investment advice to the public.

Nofway (talk) 18:44, 30 December 2017 (UTC)