Silver Law Group is investigating claims related to Barry Kornfeld and First Financial Tax Group for the sale of investment products issued by the Woodbridge Group of Companies as safe alternatives for income seeking retirees.
Barry Kornfeld (“Kornfeld”) is the owner of First Financial Tax Group in Boca Raton, FL and teaches Baby Boomer Retirement Courses at Florida Atlantic University. Kornfeld is alleged to have sold short-term mortgage notes issued by the Woodbridge Group of Companies (“Woodbridge”) to retirees seeking safe, conservative, income alternatives. Barry Kornfeld was barred in July 2010 by both the U.S. Securities and Exchange Commission (“SEC”) and the Financial Industry Regulatory Authority (“FINRA”) from acting as a broker or investment adviser or otherwise associating with firms that sell securities or provide investment advice to the public.
Woodbridge is currently the subject of a SEC probe for the possible fraudulent sale of securities to investors. Woodbridge filed for Chapter 11 bankruptcy today citing costs of expansion, litigation, and a government fraud investigation as the reason. According to Woodbridge Wealth’s website, Woodbridge offers First Position Commercial Mortgages, Secondary Market Annuities and a Commercial Bridge Loan Fund. Woodbridge has reportedly raised approximately 1 billion dollars from investors around the country through agents such as Barry Kornfeld and First Financial Tax Group.
If you invested with Barry Kornfeld, First Financial Tax Group or purchased Woodbridge products and would like a free evaluation of your potential case by a securities attorney, please contact Silver Law Group.
Silver Law Group is a nationally-recognized securities law firm headquartered in South Florida representing investors worldwide with their claims for losses due to securities and investment fraud. The firm has successfully recovered multi-million dollar awards for its clients through securities arbitration and the courts. To contact Scott L. Silver to discuss your legal matter, call toll-free (800) 975-4345 or e-mail him at SSilver@silverlaw.com.