Cases by state
Ponzi schemes in Arizona
19 cases announced 2008–2024, involving about $425.1M in reported investor money. Most common types: investment funds & advisory, lending & cash advance and trading, forex & commodities. Listed by where the main defendant was based.
The largest by reported amount: Pacific Property Assets, Apartments America ($110M, 2014). Charges are allegations unless a court has entered a conviction or judgment.
Pitch phrases seen in these cases
- “a government bond”
- “15 percent a month”
- “5 percent plowed back”
- “the plan couldn't fail”
- “an experienced and profitable trader”
- “consistently profitable”
- “our treasure chest”
- “personal candy store”
Cases
| Date | Case | Location | Industry | Amount |
|---|---|---|---|---|
| Nov 12, 2024 | Best Image I LLC, Cactus Blue Entertainment LLC Michael Saquella |
Mesa, AZ | Investment funds & advisory | $915,005 |
| Aug 8, 2024 | Carl Arnal (aka Michael J. Cohen), Christopher Vaughan, Damon Artis, Richard Gavzie | Tucson, AZ | Investment funds & advisory | $1.3M |
| Nov 2021 | Stephen P. LeProhon | Lake Havasu City, AZ | Investment funds & advisory | $395,000 |
| Feb 5, 2020 | Zima Digital Assets LLC John Michael Caruso, Zachary Salter |
Scottsdale, AZ | Crypto & digital assets | $7.5M |
| Jul 20, 2017 | Brixon Group Ltd Joseph Wayne McCool, Donald Manning, Cameron Campbell |
Mesa, AZ | Lending & cash advance | $10M |
| May 3, 2017 | Williams Advisory Group LLC Cory Williams |
Gilbert, AZ | Trading, forex & commodities | $13M |
| Dec 20, 2016 | Draven LLC Derek Springfield |
Mesa, AZ | Trading, forex & commodities | $1.5M |
| Sep 15, 2015 | Arizona Investment Center, The Investment Roadshow Jason Mogler, James Jeffrey Hinkeldey, Casimer Polanchek, Brian Buckley, James Stevens |
AZ | Real estate | $18M |
| Feb 5, 2014 | Pacific Property Assets, Apartments America Michael J. Stewart, John J. Packard |
Phoenix, AZ | Investment funds & advisory | $110M |
| Dec 6, 2012 | Ray Thomas Brown | Phoenix, AZ | Trading, forex & commodities | $1.2M |
| Apr 25, 2012 | Danny Wise (aka Dan Wise) | Scottsdale, AZ | Real estate | $66M |
| Feb 9, 2012 | Farr and Associates, Farr Financial Group Bonnie Lynn Recinos (aka Bonnie Farr), Obdulia Julie Leon (aka Julie Ochoa) |
Mesa, AZ | Real estate | $1.5M |
| Dec 23, 2011 | Allen Leroy Kayser | Tucson, AZ | Investment funds & advisory | $1M |
| Jan 24, 2011 | The Private Trading Pool (PTP) Anthony Eugene Linton |
Tucson, AZ | Trading, forex & commodities | $800,000 |
| Jan 7, 2010 | Miko Dion Wady | Chandler, AZ | Lending & cash advance | $50M |
| Dec 10, 2009 | Mathon Management, Mathon Fund Guy Andrew Williams, Brent F. Williams, Duane Hamblin Slade, Douglas Edward Towler, Russell Laurence Sewell, Aubrey Williams |
Mesa, AZ | Lending & cash advance | $100M |
| Mar 4, 2009 | Mac Investments Inc Jeff Teitelbaum, Maria Gonzalez, William Hoberg, Christopher Livanos |
Mesa, AZ | Lending & cash advance | $8M |
| Jan 17, 2009 | Nakami Chi Group Ministries International Edward Anthony Purvis |
Chandler, AZ | Investment funds & advisory | $8M |
| May 29, 2008 | City Limits Inc., Cal Productions William James Galyon Jr., Bradley J. Nozicka, Nova Michaels, Robert J. Rosepink, Alfred J. Olsen |
Tucson, AZ | Investment funds & advisory | $26M |