Dec 11, 2012 10:27 PM by Associated Press
PHOENIX (AP) - The Arizona Corporation Commission has put the brakes on two separate investment endeavors that involved selling securities in wind and gold mining projects.
The panel announced Tuesday that it reached settlements with three people and ordered more than $16 million in restitution to be paid to investors.
In the first case, Edward Mazur and Ronnie Williams were accused of fraudulently promoting an unregistered investment program involving wind energy development.
The commission found that Mazur and Williams offered and sold to more than 300 investors nationwide but were not registered to do so.
In the other case, the commission found that Larry Goldman of Tucson and his company, MT Explorations, LLC, promoted an unregistered gold mining investment program to more than two dozen people in Arizona, Ohio and Utah.