Arizona Company, Salespeople Sanctioned For Defrauding Investors

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A group of Arizona men, Ronald Horn, Daniel Rondberg, Randy Rondberg, Jason Walter, John Walter, and the company they worked for Trager, LLC, have been ordered to pay administrative penalties for committing securities fraud and other securities violations.

The Arizona Corporation Commission found that Trager, and its salespeople raised more than $22.86 million for a group of related companies known as Woodbridge, primarily from Arizona investors. However, Trager and its salespeople, failed to disclose to some investors the risks of investing in these types of securities and/or about the legal action taken against Woodbridge by other states. The Woodbridge companies and the person who controlled them were the subject of Commission orders issued in November 2018.

According to the Arizona Corporation Commission, “In settling these cases, the respondents neither admit nor deny the Corporation Commission’s findings, but agree to the entry of each of their respective consent orders.”

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