A Scottsdale man has been fined more than $240,000 after state regulators concluded he misled Arizonans with unlicensed investment-advisory services over a span of more than four years.
According to a Nov. 19 ruling from the Arizona Corporation Commission, John A. Perez must pay $174,087 in restitution to victims and $71,000 in administrative penalties for conduct dating from late 2018 through early 2023.
Investigators say Perez presented himself as a wealthy, retired investment adviser and stockbroker who could teach clients to dramatically grow their portfolios. The ACC found that Perez promoted supposed gains tied to a “carpool investment account” and even sent screenshots to bolster his claims — but regulators determined the account showed “little to no activity.”
Perez allegedly met with at least eight individuals or investment groups across Arizona, charging between $2,500 and $20,000 for “training sessions,” and in some cases accessed and traded directly in clients’ TD Ameritrade accounts, according to case documents. The commission also noted he failed to disclose two previous theft-related felony convictions.
The decision adds to a series of recent enforcement actions targeting fraudulent or unlicensed investment schemes in the Valley. More information on investor protections and licensing requirements is available through the Arizona Corporation Commission’s Securities Division.
