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Friday, Jun 9, 2023

Preview: Recoup From a Ponzi Past?

Woodbridge Group of Cos. in December made headlines after it filed for Chapter 11 protection and was subsequently sued by the Securities and Exchange Commission for allegedly running a billion-dollar Ponzi scheme. But what’s happened since is unusual. Ponzi schemes usually collapse upon being exposed. But management at the real estate investment firm – situated in a two-story office building on Ventura Boulevard in Sherman Oaks – appear set to overhaul its operations and try to make good with its creditors. Read the full story in the February 5 issue of the San Fernando Valley Business Journal.

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