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SEC going after brokers for peddling shares in $1.2 billion real estate Ponzi scheme

August 21, 2018 / Ben Lane

The Securities and Exchange Commission is already pursuing charges against Robert Shapiro, the founder of the Woodbridge group of companies, for allegedly bilking thousands of investors out of hundreds of millions of dollars via a $1.2 billion real estate Ponzi scheme. And now, the regulator is going after brokers who sold shares in the collapsed group of companies. The SEC this week announced that it is charging five people and four companies with unlawfully selling securities of the Woodbridge companies to retail investors.