1300 W. Washington Street

Phoenix, AZ 85007-2996

 

 

Main: (602) 542-4242

Email: SecuritiesDiv@azcc.gov

News

Investment Professional Admits to Defrauding Investors with Multimillion Investment Scheme that Falsely Claimed to Involve Religious and Humanitarian Projects

The Corporation Commission ordered Bradley Tennison of Gilbert to pay a $75,000 administrative penalty for defrauding investors. The Commission also revoked Tennison’s securities salesman registration and investment adviser representative license.

The Corporation Commission found Tennison falsely represented that investments in The Joseph Project would fund an after-hours bank trading program which would generate profits to benefit religious and humanitarian projects. The Commission found Tennison falsely represented to investors that the investment was totally safe and would generate a return.  The Commission found Tennison falsely claimed to have invested a million dollars of his own money.  Ultimately, most of the investor funds were misappropriated. To date, none of the investors have received their promised returns. In June 2019, the state of Arizona indicted Tennison on sixteen felony counts relating to this unlawful conduct.

In settling this matter, Tennison admits to the Commission’s findings and agrees to the entry of the consent order.  All documents related to this agenda item can be found in the Corporation Commission’s online docket at https://edocket.azcc.gov and entering docket number S-21078A-19-0143.

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Arizona Corporation Commission

1200 W. Washington Street

Phoenix, AZ 85007

 

Corporations Division

1300 W. Washington Street

Phoenix, AZ 85007

 

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Tucson, AZ 85701