The Securities and Exchange Commission sued a Tennessee broker and his firm July 15 over their alleged role in the $1.2 billion Ponzi scheme run by Woodbridge Group of Cos. and 1 Global Capital LLC.
Henry J. Wieniewitz III and Wieniewitz Financial LLC sold more than $64 million in unregistered securities connected to the conspiracy between February 2016 and July 2018, according to the complaint filed in the U.S. District Court for the Southern District of Florida.
They earned $3.5 million in transaction-based commissions by pitching those illegal trades, which often targeted retirement savings, as “safe and secure,” the SEC ...
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