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Woodbridge issued promissory notes to traders promising continual returns on secured financial loans. In exchange for money used to mortgage to industrial home proprietors, investors had been promised in between 5 and seven% once-a-year fascination, significantly exceeding generally secured returns. These mid-solitary digit curiosity gains on lent dollars captivated Many buyers. Learn more
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Fred Chen would be the CEO with the rehabilitation trust set up to compensate victims from the Woodbridge fraud. In line with Mr. Chen, home transactions have started to close and this could bring about inadequate funding to deliver the organization from bankruptcy.
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