Not a myth this time: Did you buy Woodbridge notes?

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Posted Jun 19

 About 2-3 years ago I was pitched a very secure-sounding real estate play by Woodbridge.  It quacked like a securities duck, though, so I checked with the Oregon Dept. of Finance and Corporate Securities (now the Division of Financial Regulation)  to see if it was registered for sale here.  Nope.  So I sent them all the sales materials I had received and wrote it off as a scam.
Lo & behold, now Woodbridge is in Ch.11 bankruptcy & owes noteholders $750 mil.  So much for “secure-sounding”.

Before moving money anywhere, be sure to check that the “anywhere” is at least approved by the appropriate regulatory authorities.  And insist on evidence that the recommendation is better than what you have now.  I do.

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