SEC bars four 'advisers' for selling unregistered Woodbridge securities

Sales of high-commission notes and private placements were at issue

May 22, 2019 @ 12:19 pm

By InvestmentNews

The Securities and Exchange Commission has barred four unlicensed "advisers" for selling unregistered securities from Woodbridge Group of Companies.

The barred individuals are Randy Rodberg of Mesa, Ariz.; Andrew Costa of Fort Lauderdale, Fla.; Claude Mosely of Myrtle Beach, S.C.; and Marcus Bray of American Canyon, Calif.

(More: Woodbridge Group execs charged with criminal fraud in Ponzi scheme)

The SEC said that Mr. Rondberg, through Trager, a company he owned and controlled, acted as an unregistered broker-dealer by selling unregistered Woodbridge securities between February 2015 and November 2016. The Commission said Mr. Rondberg received approximately $918,000 in commissions from the sale of approximately $15.5 million of promissory notes bearing 5%-8% interest and seven private placement fund offerings with five-year terms, the SEC said.

(More:SEC charges business journalist, 12 others who sold Woodbridge Ponzi)

Similar sales of unregistered securities were conducted by Mr. Costa through his firm, Costa Financial Insurance Services Corp.; Mr. Mosely, through his firm, Security Financial; and Mr. Bray, through his firm, Bradford Solutions.


What do you think?

View comments

Recommended next


Hi! Glad you're here and we hope you like all the great work we do here at InvestmentNews. But what we do is expensive and is funded in part by our sponsors. So won't you show our sponsors a little love by whitelisting It'll help us continue to serve you.

Yes, show me how to whitelist

Ad blocker detected. Please whitelist us or give premium a try.


Subscribe and Save 60%

Premium Access
Print + Digital

Learn more
Subscribe to Print