PHOENIX — A Phoenix man was recently found guilty by a jury after defrauding a victim of $1.5 million, officials announced on Tuesday.

Tony Anthony Hatley Jr. was convicted last Wednesday (July 30) of fraudulent schemes and artifices, two counts of theft and filing a false return, according to the Arizona Attorney General’s Office.

“This was not just fraud — it was a calculated con,” Attorney General Kris Mayes said in the announcement. “This individual preyed on others’ trust, stole over $1.5 million and thought they could get away with it. This verdict is a reminder that if you lie, cheat and steal from Arizonans, my office will find you and hold you accountable under the law.”

How did the Phoenix man defraud his victim?

Hatley first approached his victim in early 2017 about wanting to do a photo shoot with the expensive car they were driving at the time.

Following the interaction, Hatley befriended the victim by posing as a securities trader.

According to the Arizona Attorney General’s Office, Hatley claimed to be an experienced stock and currency trader that got clients “big returns” on investments and in the past had worked for a large brokerage firm.

In reality, Hatley had no license to sell financial products and had never worked for a brokerage firm.

In July 2017, Hatley’s victim gave him $35,000 to “invest” in foreign currency trading. Two weeks later, Hatley returned $5,000 to the victim and claimed it was the profit from the investment.

Believing they were making good returns on their money, the victim continued to give “investments” to Hatley for the next three months.

The “investments” made included:

  • $1 million to invest in low-risk annuity
  • $250,000 for more foreign currency trading
  • A $300,000 loan to do a trading demonstration for other potential investors.

Instead on investing the victim’s money, Hatley spent it on himself.

He purchased a Lamborghini Aventador for $290,000 and a $650,000 home for him and his wife in Gilbert. Hatley also paid off $60,000 in student loans.

Hatley didn’t report any of the extra income on his tax returns.

In total, the victim gave Hatley more than $1.5 million and received less than $45,000.

Hatley is scheduled to be sentenced Aug. 28.

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