Woodbridge Mortgage Investment Fund—Sale of Securities by Unregistered Brokers

Cleveland stockbroker fraud lawyerWoodbridge Mortgage Investment Fund Allegedly Engaged in 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

Woodbridge Mortgage Investment Fund, of Sherman Oaks, California, allegedly engaged in 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 SEC Documents currently under review by attorneys Alan Rosca and James Booker.

Peiffer Rosca Wolf securities practice lawyers are investigating Woodbridge Mortgage Investment Fund’s alleged implementations of unlicensed individuals selling unregistered securities.

Investors who believe they may have lost money in activity related to Woodbridge Mortgage Investment Fund’s alleged implementations of unlicensed individuals selling unregistered securities are encouraged to contact attorneys Alan Rosca or James Booker with any useful information or for a free, no obligation discussion about their options.

Woodbridge allegedly implemented a network of both internal and external nationwide sales agents which purportedly marketed different investments and these sales agents were allegedly paid various levels of commissions for their work, the Documents state.

Furthermore, Woodbridge also allegedly made sales though material misrepresentations and omissions of fact, such as a lack of registration of the offering, the qualifications of the managers of the funds, the solvency of the company, the risks of the offering, and prior regulatory actions against Woodbridge in Arizona, Texas and Massachusetts, said Complaint also notes.

For example, the Woodbridge Funds were commercial lenders that made hard-money loans secured by commercial property and the Woodbridge Funds purportedly also raised money from investors to help fund the hard cash loans, according to a Massachusetts Enforcement Action.

The Woodbridge Funds allegedly pool money from various investors for each hard-money loan, and the Woodbridge Funds’ promissory notes effectively guarantee the underlying hard-money loans, and the Woodbridge Funds’ advertising materials state that the Woodbridge Funds are obligated to make payments to FPCM investors even if the hard-money borrower defaults, the Action states.

In addition, a separate action has purportedly been filed by the Colorado Commissioner of Securities that alleges that Woodbridge Mortgage purportedly sold securities in violation of Colorado law, according to reports from the Colorado Commissioner of Securities.

The Commissioner further alleges that Woodbridge purportedly raised nearly $60 million from Colorado investors, and that the company implemented unlicensed sales representatives to make sales of unregistered securities via misrepresentations and omissions of material facts.

What is more, the reports from Colorado allegedly named three individuals, James Campbell, Timothy McGuire and Ronald Caskey, who were affiliated with Woodbridge Mortgage Investment Fund and whom were not licensed to make sales of securities, according to a Complaint from the Colorado Commissioner of Securities.

Furthermore, Pennsylvania state officials also allege that, in April of 2017, Woodbridge Wealth allegedly sold complex structured settlement products in the state, in purported direct violation of the state’s securities regulations, according to the Pennsylvania Bureau of Securities Compliance and Examinations.

Pennsylvania financial regulators determined that Woodbridge Wealth was allegedly selling unregistered securities, which is a purported legal violation, according to Reports from Pennsylvania. Woodbridge Wealth was allegedly fined $30,000 but Woodbridge did not admit to or deny any wrongdoing in the course of offering structured settlements to investors in Pennsylvania, said Reports note.

Woodbridge Allegedly Raised Worked with Several Thousand Investors Nationwide through Various Investment Offerings via Various Forms and Structures to Raise over $1 Billion

Woodbridge worked with several thousand investors nationwide to raise more than $1 billion through multiple investment offerings using various forms and structures, according to the aforementioned Court Reports being reviewed by attorneys Alan Rosca and James Booker.

For example, regarding the Woodbridge Mortgage Investment Fund III, LLC, Woodbridge allegedly made a filing with the Commission on September 18, 2015, a Form D stating that it had raised $36,330,251 from a potential offering of $50,000,000, the Reports note.

The Court Reports further allege that a network of both internal and external nationwide sales agents allegedly market different investments and these sales agents are allegedly paid various levels of commissions for their work, the Reports state.

Securities Lawyers Investigating

The Peiffer Rosca Wolf securities lawyers often represent investors who lose money as a result of investment-related fraud or misconduct and are currently investigating Woodbridge Mortgage Investment Fund’s alleged implementations of unlicensed individuals. They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients.

Investors who believe they lost money as a result of Woodbridge Mortgage Investment Fund’s alleged implementations of unlicensed individuals may contact the securities lawyers at Peiffer Rosca Wolf, Alan Rosca or James Booker, for a free no-obligation evaluation of their recovery options, at 888-998-0520 or via e-mail at arosca@prwlegal.com or jbooker@prwlegal.com.

Alan Rosca (1252 Posts)

Alan is a securities lawyer. He also teaches Securities Regulation at the Cleveland-Marshall College of Law. He focuses his legal practice on complex commercial and financial litigation and arbitration, particularly in the areas of securities and investment fraud. His office is in Cleveland, Ohio.

In our legal system, every person is innocent until and unless found guilty by a court of law or a tribunal. Whenever we reference “allegations” or charges that are “alleged,” such allegations or charges have not been proven, and are merely accusations, not findings of fault, as of the date of the blog. We do not have, nor do we undertake, a duty to continue to monitor or follow cases about which we report, and/or to publish subsequent blogs regarding various developments that may occur in such cases. Readers are encouraged to conduct their own research regarding any such cases and any developments that may or may not have occurred in such cases.