News Release      
  For Immediate Release: 12-7-17      
  Media Contact | Angie Holdsworth      
  Direct | 602-542-0844      
  E-Mail | AHoldsworth@azcc.gov      
         
 
Cease and Desist Order Issued to Scottsdale Man Accused of Investment Fraud
Investors encouraged to contact Corporation Commission’s Securities Division
 
 

PHOENIX — Following a temporary cease and desist order issued against Scottsdale resident Howard M. Price III, the Arizona Corporation Commission is seeking investors who may have had dealings with Price.

The Corporation Commission’s Securities Division issued a temporary cease and desist order against Howard M. Price III on November 22, 2017, claiming he and his affiliated company provided fraudulent investment advisory services.

From January 2013 until at least November 2017, Price and his company, Howard Price Wealth Management, LLC, are accused of acting in the capacity of an investment adviser or investment adviser representative by providing investment advisory services to at least three Arizona residents.

The Commission’s Securities Division maintains Price was not registered to sell securities in Arizona when he and his company offered and sold unregistered securities to at least one Arizona investor. The Securities Division alleges Price and his company made materially false and misleading statements and omissions. Price and his company are also alleged to have issued fraudulent investment reports to at least one investor and used investment funds for Price’s personal expenses. Price has not been registered to sell securities or licensed to provide investment advice in Arizona, or any other state, since July 20, 2012.

Price is entitled to an administrative hearing to answer to the charges made by the Commission’s Securities Division. The Commission urges other investors who have dealt with Price and his company to contact Securities Division investigators directly at 602-542-0662 or securitiesdiv@azcc.gov.

 

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About us:
The Arizona Corporation Commission was established by the state’s constitution to regulate public utilities and business incorporation. The five Commissioners elected to the Corporation Commission oversee executive, legislative, and judicial proceedings on behalf of Arizonans when it comes to their water, electricity, telephone, and natural gas resources as well as the regulation of securities, pipeline, and railroad safety. To learn more about the Arizona Corporation Commission and its Commissioners, visit http://azcc.gov.