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Arizona men found guilty over fraudulent investment scheme

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Posted at 8:38 AM, Jul 25, 2022

Two Arizona men will be sentenced in September after a federal jury found them guilty on multiple counts of securities fraud related to a religious charitable organization that lured investors on the promise of big returns.

Jeffrey McHatton, 68, of Chandler, and Robert Sproat, 60, of Mesa were found guilty on 10 counts of securities fraud in the U.S. District Court trial in Tucson that ended on July 15. The case was tried before U.S. District Judge Rosemary Márquez. Their sentencing is scheduled for Sept. 28.

Prior to trial, a third co-defendant, Robert Moss, 56, of Gilbert, pleaded guilty to his involvement in the scheme and was sentenced to 30 months in prison.

Read more of this story from the Business Journal.