Securities Regulation

With our significant senior population, Arizona has long been the target of so-called “boilerrooms”, operated by unsavory and unlicensed securities dealers seeking to rip-off unsuspecting investors. These schemes run the gamut, from the traditional “Ponzi” scheme, to newer frauds such as telephone booth “investments” that are really just unlicensed securities. The Corporation Commission should continue its aggressive efforts to root out these Ponzi schemes and other frauds.

The Commission was the agency that first discovered the Baptist Foundation fraud. Through the work of Commission employees, many innocent investors in this scheme have received substantial restitution.