Estimated reading time: 0 minutes, 24 seconds
A Georgia-based financial advisor has agreed to leave the industry to settle the Securities and Exchange Commission’s charges involving a Ponzi scheme that raised more than $110 million. So reports WealthManagement.com.
John Woods is awaiting sentencing after pleading guilty in March to federal wire fraud charges related to the scheme.
Dozens of alleged victims of the scheme recently sued Woods’ former employer Oppenheimer & Co., accusing the firm of covering up his actions.