Jeffrey L. Wendel Allegedly Served as an Unregistered Broker on Behalf of Woodbridge & Helped Raise Approximately $188 Million from the Offer & Sale of Unregistered Securities
Jeffrey Wendel, of Ft. Recovery, Ohio, allegedly served as an unregistered broker on behalf of Woodbridge raising approximately $188 million from the offer and sale of Woodbridge’s unregistered securities from approximately 3,000 retail investors located throughout the United States, according to SEC Reports under review by investor rights attorney Alan Rosca.
Said allegations were filed on December 18, 2018, and state that Wendel and his co-defendants allegedly collectively earned approximately $10.5 million in transaction based sales commissions, the SEC notes.
Wendel and his co-defendants allegedly pitched investors, both pre-existing clients and newly found, via telephone, e-mail and at face-to-face meetings which gave them Woodbridge’s sales materials advertising Woodbridge’s securities as safe and secure, the SEC reports.
Woodbridge Group of Companies is a southern California luxury real estate developer allegedly defrauded investors in a $1.2 billion real estate Ponzi scheme.
Alan Rosca, of the Goldman Scarlato & Penny PC law firm, is investigating activity related to Jeffrey Wendel’s alleged participation in the alleged Woodbridge Ponzi scheme. Investors who believe they may have lost money in activity related to Jeffrey Wendel’s alleged participation in the alleged Woodbridge Ponzi scheme are encouraged to contact attorney Alan Rosca with any useful information or for a free, no obligation discussion about their options.
Wendel Allegedly Held No Securities Licenses, Was Not Registered with the SEC; Woodbridge’s Securities Were Allegedly Not Registered with the SEC
Jeffrey Wendel and his co-defendants allegedly held no securities licenses, were not registered with the SEC, were not associated with registered broker-dealers, and Woodbridge’s securities were allegedly not registered with the SEC, the SEC notes.
Unbeknownst to the Defendants’ clients, many of whom were purportedly elderly, Woodbridge was actually operating a massive Ponzi scheme, raising more than $1.2 billion before collapsing in December 2017, and filing a petition for bankruptcy, the SEC states.
Finally, it is important to note that, as of the date of this article, there has not been a finding of liability as to the complaints mentioned in this article, unless otherwise indicated.
Securities Lawyer Investigating
The Goldman Scarlato & Penny PC law firm represents investors who lose money as a result of investment-related fraud or misconduct and are currently investigating Jeffrey Wendel’s alleged participation in the alleged Woodbridge Ponzi scheme. The firm takes most cases of this type on a contingency fee basis and advance the case costs, and only gets paid for their fees and costs out of money recovered for clients. Attorney Alan Rosca, a securities lawyer and adjunct professor of securities regulation, and has represented thousands of victimized investors across the country and around the world in cases ranging from arbitrations to class actions.
Investors who believe they lost money as a result of Jeffrey Wendel’s alleged participation in the alleged Woodbridge Ponzi scheme may contact attorney Alan Rosca for a free no-obligation evaluation of their recovery options, at 888-998-0530, via email at email@example.com, or through the contact form on this webpage.