All Releases

Woodbridge Wealth is Not Registered with the SEC or FINRA

November 28, 2017 | Silver Law Group

Woodbridge Wealth promotes itself as a division of Woodbridge Group of Companies and advertises as a company with a focus on “wealth creation” claiming “Woodbridge Wealth is among the most innovative financial companies in the U.S. From its base in Sherman Oaks, California, it helps countless clients realize strong returns with lower-risk products without the burden of long-term commitments.”

The promise of lower-risk investments with strong returns has helped Woodbridge Wealth and its related companies raise over $1 billion from investors nationwide. However, recent SEC filings and other state action have raised concerns that Woodbridge Wealth may have violated the federal securities laws by selling unregistered securities or violating the anti-fraud provisions of the federal securities laws.

SEC Filings Concerning Woodbridge Wealth

Woodbridge Group of Companies Principal Robert Shapiro Takes the 5th Amendment

November 28, 2017 | Silver Law Group

Robert Shapiro, president and CEO of Woodbridge Group of Companies (“Woodbridge”), has reportedly refused to answer questions from the Securities and Exchange Commission (“SEC”) relating to its investigation of Woodbridge’s business practices.

In a letter to the SEC, filed in federal court papers, Mr. Shapiro’s lawyer writes, “Upon consideration of the SEC’s investigative subpoenas and a review with counsel of the individual rights afforded by the United States Constitution, Mr. Shapiro will rely on his constitutional privilege to refuse to be a witness against himself.”

This disclosure occurs on the heels of a related SEC action against Woodbridge for the production of documents including e-mails and corporate documents relating to dozens of companies. According to the SEC, Woodbridge has raised over $1 billion from thousands of investors nationwide and is now under investigation for possible violations of the securities laws including anti-fraud violations.

Woodbridge Group of Companies’s CEO and President Robert Shapiro Pleads the Fifth in SEC Investigation Over $1 Billion Fraud

November 22, 2017 | Silver Law Group

CEO and President of Woodbridge Group of Companies (“Woodbridge Group”) Robert Shapiro is allegedly invoking his Fifth Amendment right to remain silent after the SEC has made repeated requests for documents from him and Woodbridge Group.

The SEC’s Subpoena for Documents Against Woodbridge Group

The SEC first launched an investigation into Woodbridge Group in November 2016. The SEC was looking into the “offer and sale of unregistered securities, the sale of securities by unregistered brokers and the commission of fraud in connection with the offer, purchases and sale of securities.”

James E. Lyons, Raymond James

November 3, 2017 | Silver Law Group

James E Lyons

CRD#1020397

Silver Law Group is investigating former Shreveport, LA-based Raymond James broker James E Lyons after a client filed a FINRA complaint alleging unauthorized trading. This complaint alleged damages of $1,200,000

Michael P. Mctigue, Newbridge Securities

November 2, 2017 | Silver Law Group

Michael P Mctigue

CRD#3031287

Silver Law Group is investigating former Boca Raton, Florida-based Newbridge Securities Corp broker Michael P Mctigue. Following his voluntary resignation from his firm and allegations of churning and excessive trading.

Richard S. Botkin, Morgan Stanley

November 2, 2017 | Silver Law Group

Richard S. Botkin

CRD# 1571729

Silver Law Group is investigating Former Roseville, California-Morgan Stanley broker Richard S. Botkin after a allegations of outside business activity and illicit private placement investments.

William J. Paynter, Wells Fargo

October 25, 2017 | Silver Law Group

William J. Paynter

CRD# 2835535

Silver Law Group is reviewing Scottsdale, Arizona-based Wells Fargo broker William J Paynter after a customer filed a FINRA complaint alleging unsuitable investments.

Mark J Flanagan, Citigroup Global Markets

October 24, 2017 | Silver Law Group

Mark J. Flanagan

CRD#1949836

Silver Law Group is investigating former Highland Park, Illinois-based Citigroup Global Markets broker Mark J. Flanagan after he failed to respond to an official request for information and was temporarily suspended by FINRA.

Ross A Stein, Wells Fargo

October 23, 2017 | Silver Law Group

Ross A Stein

CRD# 19616

Silver Law Group is investigating New York-based Wells Fargo broker Ross A Stein after a customer filed a complaint against him related to the purchase of Puerto Rico municipal bonds.

Lorenzo C. Esteva, UBS Financial Services

October 21, 2017 | Silver Law Group

Lorenzo C. Esteva

CRD#2170595

Silver Law Group is auditing former Miami, Florida-based UBS Financial Services broker Lorenzo C Esteva, after multiple customer allegations of unauthorized trading and misrepresentation.