Arizona Attorney General Mark Brnovich has announced that a state grand jury indicted John Cronin Astori on charges of securities fraud, sale of unregistered securities and two other charges.

Astori is accused of committing these criminal acts on the same day as his arraignment for financial crimes charges involving a different indictment against him.  

In early March, special agents for the Attorney General’s Office learned Astori was actively soliciting investments and investment advisory services through a company called Ivy League Stock Market Research after previously being indicted for securities fraud, theft, and fraudulent chemes and artifices in February 2016. 

Undercover agents contacted Astori and posed as interested investors. On March 10, Astori met with the agents just hours after he attended an arraignment in court for the February 2016 indictment. 

Astori allegedly solicited undercover agents to invest about $200,000 in an account with Fidelity Investments, which Astori offered to manage, make trades upon, and return a profit, in exchange for a fee.  

Astori did not disclose to the undercover agents that he had recently been indicted for fraud and theft.

Astori is not a licensed securities dealer or salesman and the investment contracts he offered to the undercover agents were likewise not registered.

Astori is believed to advertise his services on local radio and through a website.

Anyone who may have invested with Astori or used his services is encouraged to contact the Arizona Attorney General’s Office.

Astori was arrested by special agents and is currently being held in jail without bond.

 Assistant Attorneys General Andy Kvesic and Michael Powell are prosecuting this case.