Jacob Wohl — the 22-year-old right-wing fraudster who unsuccessfully lobbed fake sexual assault allegations at Special Counsel Robert Mueller, former Democratic presidential candidates Pete Buttigieg and Elizabeth Warren, and infectious disease expert Dr. Anthony Fauci — may soon be getting some comeuppance thanks to Arizona Attorney General Mark Brnovich.
On November 7, 2017, the Arizona Corporation Commission (AZCC), a state government group that enforces ethical trading practices, ruled that Wohl basically lied to investors to get them to invest$155,000 in his company, the Wohl Capital Investment Group LLC.
In addition to lying about his experience and his company’s investments, Wolh allegedly misrepresented the financial risks, promising his investors 80 percent of their money back but only returning about 50 percent later on. One of his investors later killed himself, according to Wohl’s arrest warrant.
The AZCC alleged that Wohl had illegally sold “unregistered securities.” Here’s Investopedia’s explanation of what those are:
Before securities—like stocks, bonds, and notes—can be offered for sale to the public, they first must be registered with the Securities and Exchange Commission (SEC). Any stock that does not have an effective registration statement on file with the SEC is considered ‘unregistered’.
Only qualified investors, or individuals who have a net worth of at least one million dollars or an annual income in excess of $200,000, are able to buy and sell unregistered securities.
Unregistered securities scams are often advertised as ‘private offerings’ and take advantage of both qualified and non-qualified investors, often promising returns that are too good to be true.
Because Wohl didn’t meet the net worth or annual income requirements, he wasn’t legally allowed to sell them.
The AZCC told Wohl to immediately cease-and-desist his sale of unregistered securities and required him to pay $37,918.72 back to his investors. He was expected to pay $16,459.36 immediately and to pay the rest in monthly installments of $1,788.28 with payments starting in October 2017.
As of Nov. 2018, Wohl has not made any payments, an AZCC spokeswoman told the Arizona Republic. That’s unsurprising seeing as Wohl called the Arizona Corporation Commission a “racketeering organization full of Angry Democrats” in June 2018.
“The Commission, through the Arizona Attorney General’s Office, is actively pursuing collection efforts against Mr. Wohl,” the AZCC spokesperson told Salon in an email.
“Mr. Wohl has not paid anything since the matter was sent to the Attorney General’s Office for collections,” the spokesperson continued. “Given his indictment last year, I would venture that any available funds are going to pay his criminal defense counsel.”
Worse for Wohl, “The Attorney General’s office has engaged California counsel to assist in collections efforts. Those lawyers are utilizing all statutorily allowed collection methods to obtain the funds owed to the state.” That may be bad news because California issued Wohl a felony warrant in September 2019 for allegedly committing the same crimes in 2016.
Although he was later released on his own recognizance after appearing in a California court in October 2019, the combination of charges in Arizona and California could finally put the fraudster behind bars, though he may get a shorter sentence because of his young age.
On a side note, Wohl has since opened up an OnlyFans account and claims that he cannot go to the bathroom without lifting up his shirt, pointing a gun down at his genitals and taking a selfie.