Broker Investigation: David Ferwerda

David Ferwerda (CRD#: 832431) is a former broker and registered investment advisor. From 2012 to 2018, Mr. Ferwerda was employed at Signator Investors, Inc. in Grand Rapids, Michigan. Prior to that, this broker was also associated with Valic Financial Advisors and The Variable Annuity Marketing Company.

In March of 2018, the Michigan Department of Licensing and Regulatory Affairs launched an investigation into allegations that broker David Ferwerda improperly sold unregistered securities to retail investors. Soon after, Mr. Ferwerda was terminated from his position by Signator Investors, Inc. for violating firm policies regarding the offering of unregistered securities.

Former Broker David Ferwerda Allegedly Sold Fraudulent Woodbridge Products

On October 30th, 2018, the Financial Industry Regulatory Authority (FINRA) expelled former Signator Investors broker David Ferwerda from the securities industry. This enforcement action came after Mr. Ferwerda refused to cooperate with an investigation into allegations that he improperly sold unregistered promissory notes to investors.

In this disciplinary document, it was revealed that the unregistered securities in question in this case were from the Woodbridge Group. Last year, the SEC determined that Woodbridge was a $1.2 billion Ponzi scheme. Unfortunately, many innocent investors were sold fraudulent Woodbridge promissory notes by negligent brokers and financial advisors.

Get Help From Our Securities Fraud Lawyers

At Sonn Law Group, we have the skills and experience needed to represent investors who lost money in the Woodbridge Ponzi scheme. If you were sold fraudulent Woodbridge financial products by your broker, please contact our law office for a free, no obligation review of your legal claim.

Disclaimer: This article contains opinions and NOT statements of fact in any way whatsoever. The information here is general information that should not be taken as legal advice. NO attorney-client relationship is established between you and our attorneys by reading this article. This article is attorney advertising and should not be used as a substitute for legal advice from a qualified securities lawyer.

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