Two Scottsdale men have been ordered to pay restitution and penalties in separate fraud cases, according to the Arizona Corporation Commission.

The ACC ordered John A. Perez to pay $174,087 in restitution and a $71,000 administrative penalty “for fraudulently engaging in unlicensed advisory services to defraud investors,” according to a release from the agency.

The commission found Perez billed himself as someone who could teach investors, for compensation, how to increase their investments through his stock trading methods and tips.

He solicited at least eight investors to attend training sessions, “misrepresenting himself as an experienced and wealthy investment adviser . . . but failed to disclose his two prior criminal convictions for property theft,” the release stated.

The commission found that, while never licensed as an investment adviser or registered as a securities salesman in Arizona, Perez guaranteed quick and substantial gains from trading securities in his “carpool” investment account.

“He even sent screenshots of the account, leading the investors to believe he had invested their money. However, the pooled investment accounts showed little to no activity,” the release state.

In another case, the commission found former securities salesman Robert Steven Swagger, along with two limited liability companies - TRS Pureflix, LLC and TRS Companies, LLC - committed securities fraud.

Swagger, TRS Pureflix, LLC, and TRS Companies were jointly and severally ordered to pay $202,000 in restitution and a $25,000 administrative penalty, while his wife, Terri Lynne Swagger, as a controlling person of TRS Pureflix, LLC, was ordered to pay $10,000 in restitution for the company’s securities fraud violations.

The ACC found Robert Swagger solicited investors through the Young Presidents Organization Christian Fellowship Network by posting the investment pool offering on its discussion board and by emailing members.

“However, Mr. Swagger failed to tell investors that he spent investor funds on personal expenses instead of investing the money into a streaming company for faith and family-friendly media projects,” the release stated.

Swagger is awaiting sentencing before the U.S. District Court for the District of Arizona after pleading guilty to federal wire fraud charges related to his conduct promoting the investment pool offering, authorities said.

“In settling this matter, Robert Swagger admits to the commission’s findings only for the purposes of this proceeding, while Terri Swagger neither admits nor denies the Commission’s findings. Both respondents agree to the entry of their respective consent orders,” the release stated.

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