1300 W. Washington Street
Phoenix, AZ 85007-2996
The Corporation Commission ordered Seth Jardine of Gilbert and his affiliated companies to pay a $10,000 administrative penalty for selling unregistered real estate investment contracts and profit-sharing agreements on Craigslist.com.
The Corporation Commission found that respondents Jardine, EcoVista Development, LLC and EcoVista Avondale, LLC were not registered to offer or sell securities in Arizona when they represented to at least 12 investors that they were raising money to entitle, rezone and develop land to sell to real estate developers.
Respondents have paid full restitution to all the investors. In settling this matter, respondents admitted to the Commission’s findings for the purpose of this proceeding and have agreed to the entry of the consent order.