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Woodbridge, CEO To Pay $1B To Settle Ponzi Fraud Claims

Law360 (January 28, 2019, 3:32 PM EST) -- A Florida federal judge has ordered Woodbridge Group of Companies LLC and its former owner to pay more than $1 billion to resolve claims that it operated as a Ponzi scheme involving a complex web of allegedly phony real estate investments and unregistered Florida-based funds, the U.S. Securities and Exchange Commission announced Monday.

Woodbridge Group of Companies and its former owner were ordered to pay over $1 billion on Monday to resolve U.S. Securities and Exchange Commission claims that the company operated as a Ponzi scheme. (AP) Judge Marcia G. Cooke signed the orders in late December, though they were first...

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Florida Southern

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Securities/Commodities

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Date Filed

December 20, 2017

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