{"id":6364,"date":"2018-08-24T00:56:40","date_gmt":"2018-08-24T00:56:40","guid":{"rendered":"https:\/\/www.investorlawyers.com\/?p=6364"},"modified":"2022-05-19T09:56:49","modified_gmt":"2022-05-19T14:56:49","slug":"unregistered-brokers-are-charged-with-selling-more-than-243m-of-woodbridge-securities","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/unregistered-brokers-are-charged-with-selling-more-than-243m-of-woodbridge-securities\/","title":{"rendered":"Unregistered Brokers Are Charged With Selling More Than $243M of Woodbridge Securities to Over 1600 Investors"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"alignright wp-image-6399 size-medium\" src=\"https:\/\/www.investorlawyers.com\/blog\/wp-content\/uploads\/2018\/08\/Top10-3.png\" alt=\"Top10-3\" width=\"211\" height=\"300\" srcset=\"https:\/\/www.investorlawyers.com\/blog\/wp-content\/uploads\/2018\/08\/Top10-3.png 861w, https:\/\/www.investorlawyers.com\/blog\/wp-content\/uploads\/2018\/08\/Top10-3-211x300.png 211w, https:\/\/www.investorlawyers.com\/blog\/wp-content\/uploads\/2018\/08\/Top10-3-768x1091.png 768w, https:\/\/www.investorlawyers.com\/blog\/wp-content\/uploads\/2018\/08\/Top10-3-721x1024.png 721w, https:\/\/www.investorlawyers.com\/blog\/wp-content\/uploads\/2018\/08\/Top10-3-704x1000.png 704w, https:\/\/www.investorlawyers.com\/blog\/wp-content\/uploads\/2018\/08\/Top10-3-84x120.png 84w\" sizes=\"auto, (max-width: 211px) 100vw, 211px\" \/>Five <a href=\"https:\/\/www.investorlawyers.com\/investor-claims\/broker-misconduct\/\">unregistered brokers<\/a> and their companies are now facing US Securities and Exchange Commission charges accusing them of selling Woodbridge securities to investors even though they were not registered as broker-dealers and therefore were not allowed to sell these securities. The defendants allegedly made millions of dollars from the Woodbridge securities sales.<\/p>\n<p>The unregistered brokers and their companies are Barry and Ferne Kornfeld and Fek Enterprises, Andrew G. Costa and Costa Financial Insurance Services Corp., Albert D. Klager and Atlantic Insurance &amp; Financial Services Inc., and Lynette M. Robbins and Knowles Systems, Inc. They allegedly sold over $243M of Woodbridge unregistered securities to over 1600 retail investors.<\/p>\n<p>According to the regulator\u2019s complaints, the unregistered brokers and the companies marketed Woodbridge Group of Companies, LLC as an investment that was \u201csafe and secure.\u201d Woodbridge, however, declared bankruptcy last December. The moment Woodbridge filed for bankruptcy protection, investors stopped receiving the interest they were due each month and they still haven&#8217;t received a return on their principal.<\/p>\n<div class=\"read_more_link\"><a href=\"https:\/\/www.investorlawyers.com\/blog\/unregistered-brokers-are-charged-with-selling-more-than-243m-of-woodbridge-securities\/\"  title=\"Continue Reading Unregistered Brokers Are Charged With Selling More Than $243M of Woodbridge Securities to Over 1600 Investors\" class=\"more-link\">Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Five unregistered brokers and their companies are now facing US Securities and Exchange Commission charges accusing them of selling Woodbridge securities to investors even though they were not registered as broker-dealers and therefore were not allowed to sell these securities. The defendants allegedly made millions of dollars from the Woodbridge securities sales. The unregistered brokers [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3773,3792,1,4106],"tags":[3026,3054,3105],"class_list":["post-6364","post","type-post","status-publish","format-standard","hentry","category-broker-fraud","category-ponzi-scams","category-uncategorized","category-woodbridge","tag-broker-fraud","tag-ponzi-scams","tag-woodbridge-securities"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Unregistered Brokers Charged with Selling Woodbridge Securities | SSEK Law Firm Blog<\/title>\n<meta name=\"description\" content=\"Five unregistered brokers and their companies are now facing US Securities and Exchange Commission charges accusing them of selling Woodbridge securities to investors.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/unregistered-brokers-are-charged-with-selling-more-than-243m-of-woodbridge-securities\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Unregistered Brokers Charged with Selling Woodbridge Securities | SSEK Law Firm Blog\" \/>\n<meta name=\"twitter:description\" content=\"Five unregistered brokers and their companies are now facing US Securities and Exchange Commission charges accusing them of selling Woodbridge securities to investors.\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/www.investorlawyers.com\/blog\/wp-content\/uploads\/2018\/08\/Top10-3.png\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shepherd Smith Edwards &amp; 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