Mayra Angulo

The Arizona Securities Commission issued a default order against Mayra Jeanette Angulo and Mark Islas of Tucson and ordered them to pay $914,317 in restitution and $150,000 in administrative penalties for defrauding at least 30 investors, some of whom were residents of Mexico. Angulo and Islas were securities salesmen for Woodbury Financial Services, an Arizona registered securities dealer. Until they divorced, Angulo and Islas, who were also licensed insurance producers, conducted their securities and insurance business through IFS Group, selling money market funds, variable annuities and variable life contracts. The Commission found that Angulo and Islas opened brokerage accounts and post office boxes for some customers and, in some instances, used their own post office boxes for customers or used the same post office box for several different customers. While distributing fictitious brokerage accounts statements, Angulo and Islas funneled money from their customers� accounts to themselves and family members. To date, Woodbury Financial Services has reimbursed $1,320,538 to the investors.

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The Law Office of David Liebrader, Inc.


601 S. Rancho Drive, Ste.#D-29
Las Vegas, NV 89106
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Fax: 702-380-3102
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