ARIZONA NEWS

2 East Valley men found guilty of investment fraud after scamming people out of $1.2M

Jul 23, 2022, 5:45 AM

PHOENIX — Two East Valley men were recently found guilty of investment fraud after scheming people out of $1.2 million, authorities said Thursday.

Jeffrey D. McHatton, 68, of Chandler, and Robert B. Sproat, 60, of Mesa, were convicted last week by a jury on 10 counts of securities fraud, the United States Attorney’s Office for the District of Arizona said in a press release.

A third person, 56-year-old Robert Moss of Gilbert, previously plead guilty for his involvement in the case and was sentenced to 30 months in prison.

The three men from 2012 to 2014 enticed people to invest the money for the recovery of various minerals, such as diamonds and gold, from foreign countries, authorities said.

They used a religious organization as a front for the scam, which targeted several elderly victims, authorities said.

The funds were used for the men’s own personal gain, with victims only receiving minimal “interest” payments that came from others who were scammed, authorities said.

Sentencing for McHatton and Sproat will take place in September.

An investigation of the case was conducted by the FBI and the Arizona Corporation Commission.

We want to hear from you.

Have a story idea or tip? Pass it along to the KTAR News team here.

Arizona News

A girl posing with another girl and a boy holds a cellphone to take a selfie in what appears to be ...

Kevin Stone

Arizona Gov. Katie Hobbs vetoes school cellphone ban, says it’s unnecessary

Arizona Gov. Katie Hobbs vetoed a proposed student cellphone ban, saying "schools are already addressing" the issue.

1 hour ago

Split image showing the mugshot of Annie Anderson on the left and a deputy frisking her while she p...

Kevin Stone

Suspect in ‘Baby Skylar’ case extradited to Phoenix to face murder charge in newborn’s death

A woman who allegedly left her newborn baby in a Phoenix airport garbage can in 2005 has been extradited to Arizona.

3 hours ago

Javier Lopez was taken into custody on April 12, 2024. He was wanted for questioning in an Arizona ...

KTAR.com

Man wanted for questioning in Arizona homicide case taken into custody

A man wanted for questioning in an Arizona homicide case has been taken into custody, authorities said Friday.

3 hours ago

Split image with a mugshot of Donald Franklin Huegel on the left and a rose on the right. Huegel wa...

Kevin Stone

California man sentenced to 4 years for defrauding 2 elderly Arizona women in romance scams

A California man was recently sentenced to four years in prison for his role in romance scams that targeted two elderly Arizona women.

4 hours ago

Bridgework as part of the the Broadway Curve Improvement Project, which is remaking 11 miles of Int...

Kevin Stone

Drivers should watch for multiple freeway closures in metro Phoenix this weekend

Drivers should be on the lookout for multiple disruptive freeway closures in metro Phoenix this weekend.

5 hours ago

...

KTAR Video

Video: What do Americans currently agree on ahead of 2024 election?

Jim Sharpe reads a poll about what Americans agree on during his Sharper Point commentary. Video: Jeremy Schnell and Felisa Cárdenas/KTAR News

6 hours ago

Sponsored Articles

...

DISC Desert Institute for Spine Care

Sciatica pain is treatable but surgery may be required

Sciatica pain is one of the most common ailments a person can face, and if not taken seriously, it could become one of the most harmful.

...

Collins Comfort Masters

Here’s 1 way to ensure your family is drinking safe water

Water is maybe one of the most important resources in our lives, and especially if you have kids, you want them to have access to safe water.

...

Day & Night Air Conditioning, Heating and Plumbing

Day & Night is looking for the oldest AC in the Valley

Does your air conditioner make weird noises or a burning smell when it starts? If so, you may be due for an AC unit replacement.

2 East Valley men found guilty of investment fraud after scamming people out of $1.2M