Randy Rondberg, Marcus Bray, Andrew Costa, and Claude Moseley Have Been Barred From Participating in Stock Offerings
Did You Lose Money Investing with Woodbridge Securities?
Sonn Law Group would like to hear from folks who suffered significant losses in their investment accounts while working with brokers at Woodbridge Securities. Click here to submit a confidential message, or call us anytime at (866) 827–3202. We are eager to hear the details of your experience with Woodbridge Securities.
According to reporting from InvestmentNews, the Securities and Exchange Commission (SEC) has barred four unlicensed individuals who were acting as “advisers” from the industry. The administrative sanctions were brought against:
● Randy Rondberg of Arizona;
● Marcus Bray of California:
● Andrew Costa of Florida; and
● Clause Mosley of South Carolina.
In all four cases, the unlicensed individuals operated companies through which they sold unregistered Woodbridge securities to investors.
As an example, Andrew Costa used his company Costa Financial Insurance Services Corp to sell more than $13 million in Woodbridge securities to at least 76 different investors. While he raked in $735,000 in commissions, the investors suffered major losses. Similar allegations have been raised against Mr. Rondberg, Mr. Bray, and Mr. Mosley.
Woodbridge: Ponzi Scheme
In late 2017, the Woodbridge Group was exposed by regulators as a $1.2 billion Ponzi scheme. Indeed, three Woodbridge executives have been charged with criminal fraud. Unfortunately, many investors were improperly sold these high-risk, high-commission private placement securities based on false promises from financial professionals. While Woodbridge financial products were touted as safe and secure, the underlying business was wholly fraudulent. Too many financial professionals failed to perform adequate due diligence before offering these investments.
Jeffrey R. Sonn is an investment lawyer with more than three decades of experience. If you lost money investing in Woodbridge securities, he is prepared to help. Click here to submit a confidential message, or call Mr. Sonn today at (305) 912–3000 to set up a free review of your case.
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