The Securities and Exchange Commission (SEC) has taken action against Taylor Woods and Howard Wu.
The relevant complaint was filed on August 6, 2024, at the California Central District Court.
This case concerns two securities fraud schemes perpetrated by Defendants Taylor Woods and Howard Wu, involving investments in U.S.-based hotels, which resulted in investors losing over $70 million.
In the first scheme, Defendants fraudulently induced investors to consent to the sale of their investment interests—collectively worth approximately $169 million— in thirteen U.S.-based hotels, by falsely representing that, among other things, Defendants had secured an unaffiliated third-party buyer for all the hotel and that the investors would receive a pro rata share of the net proceeds from sale of the hotels to…
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