Arizona Corporations Commission Fine
In a February 17, 2011 press release, the Arizona Corporation Commission announced that "he Commission ordered James Piccolo of Scottsdale, Craig Cottrell of Tempe and Michael Roberts of Scottsdale and their affiliated companies to pay $5,577,226 in restitution and a total of $300,000 in administrative penalties for defrauding 105 investors with unregistered deed of trust investments.
The Commission found that the men promoted the unregistered deed of trust investments at real estate education seminars where they convinced students to become investors, promising them double-digit returns."
Read more about this topic: Nouveau Riche (real Estate Investment College)
Famous quotes containing the words arizona, corporations, commission and/or fine:
“Desert rains are usually so definitely demarked that the story of the man who washed his hands in the edge of an Arizona thunder shower without wetting his cuffs seems almost credible.”
—Administration in the State of Ariz, U.S. public relief program (1935-1943)
“[If a woman athlete who had contracted the AIDS virus admitted that she] had been with one hundred or two hundred men, they’d call her a slut, and the corporations would drop her like a lead balloon.”
—Martina Navratilova (b. 1956)
“Children cannot eat rhetoric and they cannot be sheltered by commissions. I don’t want to see another commission that studies the needs of kids. We need to help them.”
—Marian Wright Edelman (b. 1939)
“Sunday night meant, in the dark, wintry, rainy Midlands ... anywhere where two creatures might stand and squeeze together and spoon.... Spooning was a fine art, whereas kissing and cuddling are calf-processes.”
—D.H. (David Herbert)