Arizona regulators fine Wyoming company $10K for fraudulent Craigslist investment ads

PHOENIX — An Arizona resident and his Wyoming-based limited liability company have been ordered by the Arizona Corporation Commission to pay $10,000 for fraudulent advertisements on Craigslist.

The ACC said Friday that Dean Douglas Odle and the company he controls, Milan Capital, “violated the Arizona Securities Act by offering to sell securities within or from Arizona while not registered as dealers or salesmen.”

The fraudulent activity allegedly began in September 2025, as Odle posted ads on Craigslist with the question, “Do you want better investment returns to improve your finances?” according to the ACC. The ads targeted those seeking “surplus funds” after property is purchased at foreclosure auctions, which are created when “the purchase price (of the property) exceeds the amount owed to the mortgage lender.”

Odle and Milan Capital promised returns “exceeding 50% and even 80%,” but investors who responded to the ACC’s investigation said the ads did not disclose that the supposed investments “had been created just a few months earlier.”

The “After Foreclosure Assets,” or AFA, investment opportunities were also supposed to be repaid within two and three months.

In addition to payment of administrative penalties, the ACC ordered Odle and Milan Capital to “permanently cease and desist from violating the Securities Act.”

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