Securities Lawyers Blog
The law offices of Gana Weinstein LLP continue to investigate the Woodbridge Group of Companies and the Woodbridge Mortgage Funds (Woodbridge). The Securities and Exchange Commission (SEC) has alleged that the Woodbridge operated a billion-dollar Ponzi scheme ensnaring about 8,400 investors. Woodbridge solicited hundreds of disreputable insurance agents and investment brokers to sell its false notes that the firm claimed to be backed by mortgages. In plain sight to regulators, Woodbridge engaged in a nationwide investment fraud by offering the sale of unregistered securities.
According to BrokerCheck records kept by The Financial Industry Regulatory Authority (FINRA) Frank Dietrich (Dietrich) appears to be an agent for Woodbridge fraudulent note sales. Dietrich was formerly associated with Quest Capital Strategies, Inc. (Quest Capital) out of the firm’s Lake Forest, California office location. At least seven customers have accused Dietrich of selling them the fraudulent Woodbridge investment. In addition, Qeust Capital terminated Dietrich in March 2018 for failing to disclose his involvement with Woodbridge.