SEC charges business journalist, 12 others who sold Woodbridge Ponzi
Source: Investment News
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The Securities and Exchange Commission said Wednesday that it had charged an additional 13 individuals, including a former financial journalist, with unlawfully selling the securities of Woodbridge Group of Companies, a $1.2 billion Ponzi scheme that collapsed last December and filed for bankruptcy.
13 individuals charged were among Woodbridge's top salespeople, selling more than $350 million of its unregistered securities to more than 4,000 investors, according to the SEC statement.
Woodbridge depended on a network of unregistered brokers, some of whom had previously been barred by the securities industry, to sell the notes, which promised annual interest of 5% to 8%.
Prominent among the individuals newly charged is Jordan E. Goodman, a self-described nationally recognized expert on personal finance who for 18 years worked on the editorial staff of Money magazine, where he served as a Wall Street correspondent, according to the SEC. He also appears frequently on Fox News Network, Fox Business Network and other television stations.
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https://www.investmentnews.com/article/20181219/FREE/181219912/sec-charges-business-journalist-12-others-who-sold-woodbridge-ponzi?X-IgnoreUserAgent=1
The SEC announces - one after the other - this or that guy does not admit guilt; but they are paying settlements.
One has to wonder - how much fraud monies - are the crooks being allowed to keep?
Just sayin.....
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