UNITED STATES SECURITIES AND EXCHANGE COMMISSION

IA Release 40-5064 / November 9, 2018: The Securities and Exchange Commission ("Commission") deems it appropriate and in the public interest that public administrative proceedings be, and hereby are, instituted pursuant to Section 203(f) of the Investment Advisers Act of 1940 ("Advisers Act") against Eldrick E. Woodley d/b/a Woodley & Co. Wealth Strategies ("Respondent" or "Woodley"). The Division of Enforcement alleges that on July 5, 2018, a final judgment by default was entered against Woodley, permanently enjoining him from future violations of Sections 206(1) and 206(2) of the Advisers Act, in the civil action entitled Securities and Exchange Commission v. Eldrick E. Woodley d/b/a Woodley & Co. Wealth Strategies, Civil Action No. 4:15-cv2767, in the United States District Court for the Southern District of Texas. The Commission's complaint alleged that Woodley, a state-registered investment adviser, perpetuated a fraudulent scheme to misappropriate money from his clients over the course of more than two years. From May 2012 to June 2014, Woodley submitted a series of invoices to his custodian to collect funds from client accounts as compensation purportedly for services performed or investments made on their behalf. However, Woodley simply misappropriated money from his clients using invoices that billed clients for: (i) services that Respondent never performed, (ii) items and expenses his clients never agreed to pay, and (iii) purported investments for clients that were never made. Woodley directed all of these transactions and fraudulently collected more than $147,000 from his clients' accounts.

Order

Bar (Permanent)

association with a broker, dealer, investment adviser, municipal securities dealer, municipal advisor, transfer agent, or NRSRO

Indefinite

3/21/2022

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

SEC Litigation Release 23366/September 28, 2015: The Securities and Exchange Commission (SEC) announced that it filed fraud charges against Eldrick E. Woodley, a Houston-based investment advisor, for misappropriating more than $147,000 in client funds. According to the SEC's complaint, Woodley, doing business as the advisory firm Woodley & Co. Wealth Strategies, undertook a fraudulent scheme to steal money from his advisory clients. The Commission alleges that to perpetrate his scheme, Woodley submitted a series of fraudulent fee invoices to the custodian of his clients' accounts to collect funds from various clients, purportedly as compensation for services Woodley performed and investments Woodley made on his clients' behalf. According to the Commission's complaint, the fee invoices, however, were for services Woodley never performed and investments Woodley never made on behalf of the relevant clients. Woodley directed all of these transactions and fraudulently collected over $147,000 from his clients' accounts. The Commission alleges that Woodley violated Sections 206(1) and (2) of the Investment Advisers Act of 1940.

Judgment Rendered

Civil and Administrative Penalty(ies)/Fine(s)

Disgorgement

$147,023.39

Monetary Penalty other than Fines

Injunction