Securities Fraud in Arizona

Securities Fraud in Arizona

The Arizona Corporation Commission (ACC) is the government agency tasked with “protecting Arizona citizens by enforcing an ethical securities marketplace.” The Mission of the ACC’s Security Division states: “The Securities Division strives to preserve the integrity of the financial marketplace through investigative actions as well as the registration and oversight of securities, securities dealers and salespersons, and investment advisers and their representatives; to enhance legitimate capital formation and deter financial fraud; and to minimize the burden and expense of regulatory compliance by legitimate business.”

The Security Division reviews securities offered in Arizona to ensure that full and fair disclosure is made to potential investors and that the offerings are not inherently fraudulent. The ACC’s Security Division requires registration by certain securities dealers, salespersons, investment advisers, and their representatives. The Division also has the power to investigate possible violations of securities laws and, when the evidence warrants, to refer cases for criminal prosecution.

Securities Fraud in Arizona

The Arizona Revised Statutes has a chapter devoted to Sales of Securities, also known as the Arizona Securities Act. The Act specifically determines culpability in securities cases.

Under A.R.S. § 44-1991, Fraud in Purchase or Sale of Securities, it is fraudulent practice and unlawful for a person, in connection with a transaction or transactions within or from this state involving an offer to sell or buy securities, to:

  1. Employ any device, scheme or artifice to defraud.
  2. Make any untrue statement of material fact, or omit to state any material fact necessary in order to make the statements made, in the light of the circumstances under which they were made, not misleading.
  3. Engage in any transaction, practice or course of business which operates or would operate as a fraud or deceit. R.S. § 44-1991(A)(1)-(3).
Arizona securities law were codified with the public’s interest in mind. It is also a crime to file misleading information with the Commission. It is fraudulent practice and unlawful for a person to make an untrue statement of a material fact to the Commission or to omit a material fact in an application, registration statement, prospectus, financial statement or document required to be filed with the Commission. A.R.S. § 44-1992.

Defending Against Charges for Securities Fraud in Arizona

If you are facing charges of securities fraud, you need an aggressive and experienced white collar criminal defense attorney on your side. Ashley D. Adams is a former fraud prosecutor with the United States Attorney’s Office. She understands how prosecutors operate. Given her prior work, she also has a longstanding and positive relationship with the U.S. Attorney’s Office, the Attorney General’s Office, and the Department of Justice. Put Ashley D. Adam’s experience to work for you.

Contact us or call now (480) 219-1366 for a case evaluation. Have your questions answered and obtain the peace of mind that comes from having a former Assistant U.S. Attorney on your side.


The attorneys at Ashley D. Adams, PLC handle state criminal cases throughout Arizona including the cities of Phoenix, Scottsdale, Glendale, Mesa, Tempe, Ahwatukee, Maricopa, Gilbert, Peoria, Surprise, Goodyear, Litchfield Park, Avondale, Chandler, Casa Grande, Florence, Queen Creek, Deer Valley, North Pinal and Sun City as well as those living in and around Maricopa County, Pinal County, Pima County, Yuma County and Yavapai County.

The attorneys at Ashley D. Adams, PLC handle federal criminal cases throughout the United States, including Arizona, Oklahoma, Utah, and California.