A Scottsdale man has been ordered to pay thousands in restitution and penalties after state regulators found he defrauded investors in a scheme aimed at members of a Christian business network.
According to the Arizona Corporation Commission, Robert Swagger approached three investors in 2019 through the Young Presidents Organization Christian Fellowship Network, claiming he was raising money for a streaming company that planned to offer faith-based and family-content programming. He told the group their pooled investments would be used to purchase a promissory note tied to the company’s fundraising campaign.
Regulators say that never happened. Instead, Swagger diverted more than $200,000 into an entity he controlled, TRS Companies, LLC, labeling the transfers as management fees. Only a fraction of that amount would have been permissible under the arrangement. Commission records show the funds were then spent on personal expenses, credit card payments, legal bills and membership dues, with none going toward the promised investment.
Swagger has agreed to pay $202,000 in restitution and a $25,000 administrative penalty. He has also pleaded guilty to a federal wire-fraud charge related to the same conduct and is scheduled for sentencing in February 2026. His wife, Teri, was ordered to pay $10,000 in restitution for her role in the scheme.
Investigators also noted that Swagger did not disclose to investors that his securities license had been suspended in 2011 after a previous employer accused him of failing to repay a promissory note.
The case serves as another reminder from state regulators about the risks of affinity fraud — schemes that exploit shared religious, social or professional ties to build trust.
