A group of smooth-talking capitalists from Rocky Ford, Colorado, has been exposed for their part in a massive investment scam that promised riches to unsuspecting victims in the Salt River valley.
The ringleaders, armed with a slick business plan and a cast of local cohorts, formed the Arizona Investment and Land Company, complete with a $50,000 capital stock and a team of well-connected executives.
At the helm of the operation was C. D. Mcssner, a well-known figure in Phoenix real estate circles, who served as president. Bert Winder, a veteran of Mesa, was named treasurer, and John W. Young, a local businessman, took on the role of secretary.
But behind the scenes, the company’s true intentions seemed to be shrouded in secrecy. Mcssner, with his intimate knowledge of individual ranch holdings and water conditions in the valley, was said to have played a key role in the company’s formation.
While the company’s executives touted the benefits of investing in the Salt River valley, many wondered if the real motive was to swindle innocent investors out of their hard-earned cash.
As the investigation unfolds, it remains to be seen whether the Arizona Investment and Land Company’s business practices will be found wanting. One thing is certain, however: the people of Phoenix and the surrounding areas will be watching with a keen eye.
Related Federal Cases
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- Alan Leschyshyn Sentenced to 235 Months for $23M Fraud Scheme, Hous… · New Mexico
- Danyelle Calcagno, Tax Fraud Scheme, OR 2017 · New Mexico
- Gregory Walsh, Real Estate Investment Fraud, Oregon 2023 · New Mexico
- Alejandro Gurany, Visa Fraud Scheme, TX 2023 · New Mexico
Key Facts
- State: Arizona
- Category: Fraud & Financial Crimes
- Era: Historical
- Source: Library of Congress — Chronicling America ↗
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