SEC Wins Mammoth $1 Billion Judgment Against Woodbridge Group Ponzi Scheme18

The U.S. Securities and Exchange Commission (SEC) announced Monday that a federal court in Florida had ordered Woodbridge Group of Companies LLC to pay $1 billion in penalties and disgorgement for operating a Ponzi scheme that targeted retail investors. Penalties are fines paid to the governing authorities, but disgorgements are court-ordered repayments of ill-gotten gains to the parties that have been defrauded. A Massive Disgorgement and Crushing Penalties In this case, the Woodbridge Group of Companies LLC and its 281 associated companies, have been ordered by U.S. District Court Judge Marcia G. Cooke to pay $892 million in disgorgement to defrauded

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