Phoenix, Ariz. -  The Corporation Commission ordered Timothy L. Wolf of Chandler and his affiliated company, Financial Concepts, LLC, 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 even though 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.

All documents relating to this agenda item can be found in the Corporation Commission's online docket at https://edocket.azcc.gov/ and entering docket number S-21192A-22-0118.

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