The Arizona Corporation Commission ordered respondent Anthony Rohlik of Mesa, RRE Investments, LLC and ECB Real Estate, LLC to pay a total of $1,222,142 million in restitution and $30,000 in administrative penalties in connection with “fix-and-flip” real estate investments.

The Commission found that Rohlik typically sold real estate investments secured by a deed of trust but often recorded the deeds of trust out of order without disclosing that fact to investors.  Mr. Rohlik is a licensed real estate salesperson, but he and his affiliated companies are not registered to sell securities in Arizona.

Also, the Commission found that Rohlik did not disclose previous bankruptcies to investors before they invested. ECB Real Estate, LLC was formed to invest in real estate, but commingled funds and used the funds to purchase properties but not in the company’s name.

In settling this matter, the respondents admit to the Commission’s findings only for purposes of this proceeding and any other non-criminal proceeding in which the state is a party and agree to the entry of the consent order.

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-21219A-22-0326.