Greg W. Anderson and Woodbridge Ponzi Scheme Investigation

/

Furgison Law Group is investigating claims against Greg Anderson and Balanced Financial, Inc., related to Woodbridge Funds Ponzi Scheme

Matthew Martin Howley

The securities fraud lawyers at Furgison Law Group are currently investigating claims against Greg W. Anderson and Balanced Financial, Inc., and other unlicensed salesmen that sold various Woodbridge Mortgage Investment Fund products and related Promissory Notes. The arbitration attorneys at Furgison Law Group are investigating claims of fraud, breach of fiduciary duty, failure to supervise, misrepresentations, omissions of material facts, conflict of interests, violations of state and federal securities laws, along with other investment advisor misconduct. The claims relate to the alleged "Ponzi" scheme operated by Woodbridge and Robert Shapiro of Sherman Oaks, California, as described in the recent SEC Complaint and the sale of these investment products by Greg Anderson in Fort Collins, Colorado.

Woodbridge advertises that it sells three types of investments: first position commercial mortgages, secondary market annuities and interests in a commercial bridge loan fund, through the following entities: 

  • WMF Management, LLC;
  • Woodbridge Group of Companies, LLC;
  • Woodbridge Mortgage Investment Fund 1, LLC;
  • Woodbridge Mortgage Investment Fund 2, LLC;
  • Woodbridge Mortgage Investment Fund 3, LLC;
  • Woodbridge Mortgage Investment Fund PA, LLC;
  • Woodbridge Group of Companies, LLC (d/b/a Woodbridge Wealth); and
  • Woodbridge Promissory Notes.

SEC Filed Charges Against Woodbridge and Robert Shapiro 

The SEC charged the Woodbridge Group of Companies and Robert Shapiro with operating a $1.2 billion "Ponzi" scheme that targeted thousands of investors nationwide. “The only way Woodbridge was able to pay investors their dividends and interest payments was through the constant infusion of new investor money,” per Steven Peikin of the SEC.

The company filed chapter 11 bankruptcy on December 4, 2017, and company CEO, Robert Shapiro, resigned Friday, December 1.

Investors Have the Right to Recover Their Losses

When investments are sold by an unlicensed financial advisor, they are subject to state and federal securities laws. When investments are sold by brokerage firms licensed by FINRA, they are subject to the laws that FINRA enforces. The firms are responsible for ensuring that their brokers are trading fairly, ethically and in the best interest of their clients. Ideally, they would accomplish this through careful supervision. Unfortunately, too often this supervision has been inadequate to fully protect investors. If you purchased any investments through a representative of a registered brokerage firm or an unlicensed salesperson and suffered losses through negligence or fraud, it immediately puts the brokerage firm at fault for failing to supervise their broker. Securities law then dictates that you can hold the firm legally liable to recover your damages.

Can I recover my investment losses?

If you lost money as a result of any Woodbridge investments purchased through Greg W. Anderson, Balanced Financial, Inc., or any other firms, please contact us immediately. Our investment fraud lawyers have recovered millions of dollars from the largest banks, insurance companies and brokerage firms in the world on behalf of investment fraud victims. You may have certain legal rights that require your immediate attention. Time is of the essence in these claims. The sooner you act, the greater your chances of recovering your investment losses. Don't wait. Contact us TODAY for a FREE Consultation and case evaluation. We will tell you if you have a viable claim worth pursuing.