SEC bars four ‘advisers’ for selling unregistered Woodbridge securities
A general exterior view of the U.S. Securities and Exchange Commission (SEC) headquarters in Washington, June 24, 2011. The database is emerging alongside a new program by the FBI's criminal profiling group in Quantico, Virginia, that is creating a series of behavioral composites to help agents investigate white collar crime. The more systematic approach by the SEC and FBI comes in response to the growth and complexity of financial crimes in recent years. Picture taken June 24, 2011. To match Special Report SEC/INVESTIGATIONS REUTERS/Jonathan Ernst (UNITED STATES - Tags: CRIME LAW POLITICS BUSINESS)
Sales of high-commission notes and private placements were at issue.
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.
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