Roger Owens FINRA Broker Suspended over Woodbridge Sales

Roger Owens Cetera Advisors broker Woodbridge Mortgage Fund investigation

The securities attorneys at The Law Office of David Liebrader have opened an investigation into the securities related conduct of Roger Owens a registered representative formerly affiliated with Cetera Advisors in Elkton, Maryland.

The pending investigation concerns investments made by Roger Owens’ clients into the Woodbridge Mortgage Investment Fund.

Beginning in 2015 and up until the time of the SEC action, regulators in eight states filed civil or administrative actions against Woodbridge and its affiliated companies, as well as the sales agents selling Woodbridge’s securities.  These actions all centered around the unregistered offering of securities, and the sales agents like Roger Owens.  Five states; Massachusetts, Texas, Arizona, Pennsylvania, and Michigan entered temporary or permanent cease and desist orders against one or more of Woodbridge’s affiliates related to their unregistered sale of securities.

On December 4, 2017, Woodbridge and its affiliated LLCs voluntarily filed for Chapter 11 bankruptcy in Delaware: In re Woodbridge Group of Companies LLC, et al., Case No. 17-12560 (jointly administered) (Bankr. D. Del. Dec. 4, 2017).

On December 20, 2017 the Securities and Exchange Commission filed a complaint for injunctive relief and securities fraud against the Woodbridge entities. Securities and Exchange Commission v. Robert Shapiro et al., Case No.: 17 FM 246 U.S.D.C. Southern District of Florida.

Since that time the SEC has charged Woodbridge and its officers and directors with fraud, and in January, 2019 a federal court in Florida ordered Woodbridge, its related companies and former chief executive officer to pay $1 billion for operating what it found to be a Ponzi scheme.

In early October, 2019 Robert Shapiro, former CEO of Woodbridge was sentenced to 25 years in prison for orchestrating the fraud.

 

Roger Owens registration and disciplinary history

In order to lawfully sell investments to the public, a registered rep must either be registered or exempt from registration.  FINRA maintains a database that the public can access to check the credentials of firms and their financial advisors.  The website, also known as broker check has a listing for Roger Owens, who has been the subject of  a regulatory action and an employment related disclosure related to Woodbridge sales, an outside business activity. In August, 2019 FINRA suspended Roger Owens for a year over his sales of the Woodbridge investments.

If you suffered investment losses or have had your account excessively traded please call The Law Office of David Liebrader at (702) 380-3131 for a free, confidential consultation to discuss your legal rights and options.  Our firm takes cases on a straight contingency fee, with no money up front, and no money owed unless there is a recovery.

There is no charge for the initial consultation, so call (702) 380-3131 today to speak with an experienced securities attorney who will fight to recover your losses.

The Law Office of David Liebrader practices exclusively in the field of investment loss recovery.  For the past 25 years, we have dedicated our law practice to assisting investors who have been victims of investment fraud via fraudulent and unsuitable investment transactions.  During that time we have recovered money for over one thousand individuals, pension plans, trusts and companies.  The recoveries we have obtained via judgments, awards and settlements on behalf of our clients exceed $40,000,000.