Timothy L. Wolf et al (S-21192A-22-0118) – Timothy L. Wolf of Chandler and his affiliated company, Financial Concepts, LLC, have been ordered to pay $351,598 in restitution and a total of $50,000 administrative penalties for committing fraud in providing investment advice. The Commission found that Mr. Wolf and his affiliated company charged their clients hundreds of thousands of dollars for investment advice, however, they were not licensed to provide advice. Mr. Wolf and his company also deceived some investors by telling them that they could lawfully provide investment advice and by misleading investors about Mr. Wolf’s previous order banning him from the securities industry.

Steven L. DeWitt aka Trevor Bloom and Christina DeWitt et al (S-21296A-24-0051)- Steven L. DeWitt of Payson has been ordered to pay $6,590 in restitution and a $5,000 administrative penalty for committing securities fraud. The Commission found Mr. DeWitt created a fictitious CEO named “Trevor Bloom,” as well as fake employees for his fake business entity, “The Authentic Trader,” in effort to raise money for another fake business named “TAT Live.” DeWitt raised at least $20,250 from seven investors for TAT Live through Craigslist advertisements he placed for The Authentic Trader, which purported to offer trading education. However, within two months of the investors’ initial investments, DeWitt spent all of the investors’ money on personal and unrelated business expenses.  

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