Scottsdale man scams investors with fake faith-based streaming service

In a recent case that has captured attention, an east Valley man from Scottsdale has been convicted of securities fraud for deceiving religious investors about a media service geared towards faith and family content. Robert Steven Swagger, alongside his entities TRS Pureflix, LLC, and TRS Companies, were found guilty by the Arizona Corporation Commission. As part of the ruling, he has been ordered to pay $202,000 in restitution along with a $25,000 penalty. His wife, Terri Lynne Swagger, who played a controlling role in TRS Pureflix, has been instructed to pay $10,000 for violating securities fraud laws.

According to state regulators, Robert Swagger solicited investments through the Young Presidents Organization Christian Fellowship Network. Despite his promises, investigators discovered that instead of using the funds for the intended streaming service, Swagger diverted the money for his personal expenses. While Robert Swagger has pleaded guilty to federal wire fraud charges and is awaiting sentencing, Terri Swagger has maintained her innocence on any wrongdoing according to the Arizona Corporation Commission.

This case serves as a stark reminder of the importance of thorough due diligence before investing and highlights the need for transparency and honesty in financial transactions. If you come across any errors in our reporting, please let us know. And if you have firsthand information or media related to breaking news, we encourage you to share it with us along with a brief description.

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