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

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 Gro