On April 11, 2019, the SEC (Securities and Exchange Commission) charged two former directors of investments at Woodbridge Group of Companies LLC related to their participation in a massive Ponzi scheme. Ivan Acevedo and Dane R. Roseman, were charged, along with Robert H. Shapiro (who was Woodbridge’s owner).
Previously, a number of others, principally unregistered securities brokers, were charged.
In prior SEC charges, the SEC charged Woodbridge and Shapiro, and Woodbridge’s unlicensed brokers. A federal court in Florida in January 2019 ordered Woodbridge and Shapiro together to pay $1 billion for operating this Ponzi scheme.