Mesa man promised 800% return on investment as part of movie fraud scheme, ACC says

PHOENIX – A Mesa man lied to investors and created a Ponzi-like scheme to repay earlier investors, the Arizona Corporation Commission said Tuesday. Michael Saquella of Mesa, and his companies Best Image I, LLC, and Cactus Blue Entertainment, LLC, were ordered to pay $915,005 in restitution and a $100,000 administrative penalty for defrauding people who invested in their movie-making venture.

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