- Associated Press - Wednesday, November 5, 2014

PHOENIX (AP) - A Chandler man has been ordered to pay nearly $2.2 million in restitution for defrauding investors in business ventures.

The Arizona Corporation Commission on Wednesday ordered William N. Nordstrom to pay $2.1 million in restitution and a $100,000 penalty for securities fraud.

They say Nordstrom wasn’t registered to offer or sell securities in Arizona and he fraudulently offered and sold investments in three different companies.

In a separate case, the commission sanctioned Randall Duane Simonson of Scottsdale and Karl Henry Rehberg of Florida for selling an investment in a Mesa storage facility that cost investors more than $1.6 million.

The two men were found liable for securities fraud in the sale of stock and a promissory note.

Simonson has been ordered to pay $1.4 million restitution and Rehberg $1.2 million.

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