1300 W. Washington Street
Phoenix, AZ 85007-2996
The Corporation Commission ordered Anthony Eladio Ramos of Virginia and his purported blockchain company, Western Gateway Region Rural Broadband Company, Inc. (Western Gateway), to pay a $15,000 administrative penalty for fraudulently offering unregistered Western Gateway stock.
The Corporation Commission found that Western Gateway’s offering document contained inaccurate and misleading information regarding Ramos, a disbarred attorney, as well as two members of the board who were suspended from practicing law. Also, the Commission found neither Ramos nor Western Gateway were registered to offer or sell securities in Arizona.
Mr. Ramos was found to have solicited investor funds through an advertisement in the financial services section of Craigslist.com specifically directed at Phoenix residents.