The following is the text of a March 11, 2014, press release from the Arizona Corporation Commission:

The Arizona Corporation Commission today sanctioned a Phoenix business man and his affiliated companies for his securities violations in connection with two investment programs , one involving a failed home building venture and the other involving a marketing training website.

The Commission ordered Todd R. Nuttall of Phoenix and his affiliated companies, Todd Robert Homes, Inc., Magdalena Homes , LLC and Rotall Marketing Group, LLC to pay $225,100 in restitution and a $20,000 administrative penalty for committing securities fraud in connection with a failed home building venture and for issuing unregistered securities to finance start – up costs of a marketing training website.

Regarding the home building venture, the Commission found that, while not registered to offer or sell securities in Arizona, Nuttall and his affiliated companies, Todd Robert Homes and Magdalena Homes fraudulently sold unregistered promissory notes to eight investors through a series of workshops held in Arizona and California. The Commission found that Nuttall and his companies issued promissory notes bearing interest of 20 percent over two years . The Commission found that Nuttall and his companies represented a second general partner of Magdalena Homes as an experienced property developer of several multimillion – dollar real estate projects when, in fact, the sole general partner had never created a residential development on his own.

Regarding the marketing training website, the Commission found that, while doing business as Direct Rev Millionaire, Nuttall and Rotall Marketing Group, LLC sold unregistered promissory notes to 11 Arizona investors and other out – of – state investors . The Commission found that Nuttall and his companies promised investors annual returns ranging from 20 to 900 percent.

In settling this matter, Nuttall neither admitted nor denied the Commission’s findings , but agreed to the entry of the consent order. For more details about this case, view the full text of the Commission’s order S-20901A-13-0432. The Commission’s final order against the named respondents will be posted online as soon as it is signed by all of the Commissioners.