by Matthew Holloway | Mar 6, 2025 | Economy, News
By Matthew Holloway |
The Arizona Corporation Commission (ACC) is urging caution from the public in the use of Crypto ATMs with a warning that they are being utilized to facilitate cryptocurrency scams in a bigger way “than ever before.” Reporting from the FBI has indicated losses to consumers in Arizona of over $325 million.
According to a press release by the ACC Securities Division, national data from the Federal Trade Commission (FTC) has shown American consumers reporting losses in excess of $110 million through scams linked to cryptocurrency ATMs documented in 2023, a drastic escalation at ten-times the 2020 figure.
As explained by the ACC, Crypto ATMs, kiosks that allow users to purchase cryptocurrencies using a credit or debit card, have become more ubiquitous and are visually similar to traditional ATMs. They are often located at gas stations, convenience stores, malls, and other places where an ATM would typically be present. However, unlike a typical ATM, these kiosks convert dollars to cryptocurrency held in an electronic wallet… for a fee.
Portal scamming, an already common issue at ATMs, fuel pumps, and cash registers poses an added danger with the advent of Crypto ATMs as the ACC explains:
“The scams typically start through online chats, social media, emails, texts, pop-up messages and phone calls from strangers. The lies told by scammers vary, but they create some urgent justification for consumers to take cash out of their bank accounts and put it into a crypto ATM.
“Often, the scammers fabricate an investment that promises great returns with limited risk. When consumers put their money into the crypto ATM, the ATM converts the money to cryptocurrency. The consumer types in the scammer’s electronic wallet address, or the consumer is given a QR code to scan which points to the scammer’s electronic wallet address. The ATM then transfers the crypto to the scammer’s electronic wallet. Once in their control the scammers quickly move the crypto making it very difficult to trace and recover.”
The commission offered a series of proactive recommendations to consumers to avoid becoming a victim to scam artists employing these tactics:
- Never click on links or respond directly to unexpected calls, messages, or computer pop-ups. If you think it could be legitimate, contact the company or agency, but look up their number or website yourself. Don’t use the phone number the caller or message gave you.
- Slow down. Scammers want to rush you, so stop and check it out. Before you do anything else, talk with someone you trust.
- Never withdraw cash in response to an unexpected call or message. Only scammers will tell you to do that.
- Don’t believe anyone who says you need to use a crypto ATM to protect your money or to fix a problem or to get in a great investment. Real businesses and government agencies will never do that—and anyone who asks is a scammer.
One victim identified as Tamara Glerum by AZFamily, reportedly lost $28,000 to a scammer, with the FBI stating that Arizonans overall lost about $325 million in reported Crypto ATM fraud.
As reported by ABC15, a Peoria woman reportedly lost $17,000 to such as scam, and AZ State Rep. David Marshall has introduced House Bill 2387 to crack down on Crypto ATM fraud by imposing a $1,000 daily transaction limit on the devices, requiring state operator licensing and refund policy options as well.
Matthew Holloway is a senior reporter for AZ Free News. Follow him on X for his latest stories, or email tips to Matthew@azfreenews.com.
by Daniel Stefanski | Feb 14, 2025 | News
By Daniel Stefanski |
A Republican lawmaker is taking steps to help Arizona’s power supply during the hot summer months.
This week, Arizona State Senator Frank Carroll announced that SB 1309, which he had sponsored, had been approved by the Committee on Natural Resources, Energy & Water. This bill would “ensure Arizonans have a reliable power supply during the scorching summer months in the desert and the freezing winter months in the high country.”
The bill would require “the Arizona Corporation Commission (ACC) to ensure that any changes made to an electric power grid are capable of producing enough electricity to meet the demand for power in the summer and winter months,” and “a power generation resource mix that avoids both blackouts and brownouts unrelated to severe weather conditions or power quality incidents.”
In a statement that accompanied the announcement, Carroll said, “Because radical Democrats have adopted an extremist environmental agenda, Americans are suffering the consequences during preventable power outages that are endangering lives in the middle of heat waves and dramatic cold spells. Could you imagine if residents in Metro Phoenix experienced a long-lasting power outage when temperatures surge past 110 degrees for days on end?”
Senator Carroll added, “I sponsored SB 1309 to prevent the chaos associated with blackouts, as we’ve seen in states like California, when dangerous green agendas are adopted. We all want a cleaner environment, but not at the potential cost of human life. This commonsense measure will ensure Arizonans’ air conditioners, heaters, lights, and other basic necessities have the power to operate when we need them to.”
On the Arizona Legislature’s Request to Speak System, a representative from the Arizona Free Enterprise Club endorsed the proposal; while representatives from the Climate Cabinet Action, Advanced Energy Economy, Arizona Solar Energy Industries Association, and CHISPA ARIZONA – A Program of League of Conservation Voters, signed into oppose the legislation.
SB 1309 will soon be considered by the full chamber of the Arizona Senate.
Daniel Stefanski is a reporter for AZ Free News. You can send him news tips using this link.
by Daniel Stefanski | Jan 10, 2025 | News
By Daniel Stefanski |
The Arizona Corporation Commission is now entirely under Republican leadership.
On Monday, Lea Márquez Peterson, Rachel Walden, and Rene Lopez were sworn into office at the Arizona Corporation Commission (ACC), giving Republicans control of all five positions on the state agency. Peterson returned to office, while Walden and Lopez entered this position for the first time.
During the inaugural meeting of the new year, first-term Commissioner Kevin Thompson was voted as chairman of the ACC. Nick Myers became (what appears to be) the first-ever vice chair of the ACC.
In an exclusive comment to AZ Free News, Thompson said, “During our campaign, Commissioner Myers and I often spoke on the trail about our objectives once elected. We expected it to take our full four-year term, but instead we accomplished our goals within the first two years of office.”
Thompson added, “Looking forward to serving as Chairman, I’m confident we will be able to build upon our recent successes with this talented and motivated group of Commissioners. As Chair, my focus is going to be on ensuring our collective efforts are always pushing Arizona forward, making the Commission more efficient and responsive to the public, and never losing sight of our duties to ratepayers and the trust voters have placed in us.”
Peterson posted to her X account about her first day of this new term of office, saying, “I am honored to serving a second term at the Arizona Corporation Commission! Thank you to Chief Justice Timmer for conducting my oath of office. I’m looking forward to serving with Nick Myers, Kevin Thompson, Rachel Walden, and Rene Lopez!
Nick Myers said, “As best we can tell, the Arizona Corporation Commission has never had a Vice-Chairman position. Today we made history… Again. After I nominated Commissioner Kevin Thompson as the new chairman, he nominated me as the very first Vice-Chairman!”
Rachel Walden wrote, “It’s official! Thank you to the Commission staff for organizing today’s swearing in ceremony and agenda. Thank you to my friends and family for attending! And a massive thank you, Arizona! It’s an honor to go to work for you.”
All five commissioners are excited about their upcoming work at the ACC over the next two years – even in a divided state government with a Democrat as Governor and Republicans maintaining control of the Arizona Legislature. In his remarks following his unanimous election as chairman of the ACC, Thompson said, “I want to continue to support this Agency and build upon a culture of success and further ensure the Commission is a place the brightest and best want to work. Where we can all be excited to step foot in this building and be proud of what we do to ensure Arizona remains a great place for our children and grandchildren and businesses for decades to come.”
Daniel Stefanski is a reporter for AZ Free News. You can send him news tips using this link.
by Matthew Holloway | Dec 7, 2024 | News
By Matthew Holloway |
The Arizona Free Enterprise Club released a statement on Wednesday severely criticizing the Arizona Corporation Commission (ACC). The statement came after the ACC, which is charged with protecting Arizonans from a non-competitive energy industry, voted to abdicate its duty by allowing formulaic rates that increase automatically year over year, as opposed to every increase being subject to public scrutiny and requiring approval.
The vote on Tuesday was carried 3-2 with commissioners Anna Tovar and Lea Márquez Peterson dissenting. According to the ACC, its policy statement “allows regulated utilities to propose formula rates in future rate cases. Under this approach, the ACC reviews and accepts as the rate a formula for calculating the utility’s cost of service, including clear definitions of inputs to that formula and a process for updating rates every year as the utility’s costs change.”
The commission claimed, “Formula rates will still be monitored closely to ensure that the utility does not over-earn relative to the cost of service for providing service (plus a reasonable return on invested capital), while continuing to provide service safely and reliably.”
The Arizona Free Enterprise Club responded in a statement saying:
“Following contentious double digit rate hikes being approved and ESG Resource Plans committed to going ‘Net Zero’ by 2050 being rubber stamped, the Commission has rushed through approving new rules masquerading as a mere ‘policy statement’ that could insulate utilities and the Commission from having to face ratepayers in future rate cases. The ‘policy statement’ would depart from traditional rate making and pursue ‘formula based rates’ offloading risk from investors to ratepayers and baking in automatic rate increases with little transparency or opportunity for ratepayer engagement.
“The only support for this ‘policy statement’ came from the utilities themselves. The Commission is charged to protect ratepayers by regulating the utilities, not the other way around. The Commission should pump the brakes, not rush through major rulemaking decisions in a lame duck session.
“The Arizona Free Enterprise Club is committed to protecting ratepayers, ensuring affordable and reliable energy in Arizona. We will continue to work to ensure utilities will not be able to force their captive ratepayers to foot the bill, especially through automatic rate hikes, for their costly goal to go ‘Net Zero’ by 2050 by shuttering reliable sources of energy generation to build out expensive and unreliable wind, solar, and battery storage projects.”
Attorney Dan Pozesfsky of Arizona’s Residential Utility Consumer Office (RUCO), expressed a similar view according to 12News saying, “Trying to implement formula rates through a policy statement rather than through rules is inappropriate, illegal and in this case denies due process.”
The outlet reported that the ACC, ignoring its own plans for the vote, rushed to schedule it noting that in a previous meeting Commission Chairman Jim O’Connor had told stakeholders, “Give us feedback. Bring us guardrails.” He added, “I eagerly look forward to that kind of input at our next workshop.” However, no workshop occurred and no published legal opinions were issued.
Diane Brown of the nonprofit Arizona PIRG Education Fund stressed that the vote was conducted with critical questions about the scheme remaining unanswered. She said, “This is precisely to me why it was so important to have the legal memo that this Commission said they would get. While there are statements that there will be increased transparency, I’m not seeing evidence of that. It is troubling to me that we haven’t heard from the ALJ (administrative law judge). We have not heard from Staff.”
Matthew Holloway is a senior reporter for AZ Free News. Follow him on X for his latest stories, or email tips to Matthew@azfreenews.com.
by Matthew Holloway | Nov 26, 2024 | News
By Matthew Holloway |
With Democrat Commissioner Anna Tovar absent, the Arizona Corporation Commission (ACC) voted 4-0 vote on Friday to direct its Office of General Counsel to launch an investigation into alleged legal and ethical violations by Tovar.
The vote was conducted during a Staff Open Meeting and addressed specific allegations of ACC Code of Ethics and Arizona Administrative Code violations.
At the start of the meeting, Chairman Jim O’Connor said he couldn’t “help but share that I’m disappointed in Commissioner Tovar,” for not “hav(ing) the courtesy to show up,” after she reportedly indicated she would do so. “It’s very, very disappointing,” he added.
The Commission then entered into Executive Session for approximately thirty minutes before returning to the public-facing meeting.
Upon returning to the public meeting O’Connor announced, “It is with a deeply troubled heart that I will now make a motion to authorize our Office of General Counsel to undertake an official inquiry to determine whether Commissioner Tovar and her office staff have violated our code of ethics as amended to include the code of conduct, the Arizona State statutes, and the Arizona Administrative Code regarding: interference in and disclosure of confidential personnel-related information and whether she or her staff have harassed public servants of the State of Arizona employed here at the commission.”
He then directed General Counsel Tom Van Flein: “With respect to two things: that that would go back to include, the examination, all the way back to last year with respect to J.P. Martin in terms of potential harassment there, to investigate that. To do that expeditiously and return to the commission in ten days with a recommendation.”
According to Juan ‘JP’ Martin’s LinkedIn profile, he served as Legislative Liaison & Public Information Officer to the ACC from January to December 2023 before leaving the commission to become Deputy Communications Director to Arizona Secretary of State Adrian Fontes.
Van Flein said in a statement that the ACC Office of General Counsel will begin the investigation immediately and complete the inquiry on behalf of the Commission within ten days. This would put completion of the probe on or about December 2nd or 3rd.
Tovar, formerly an Arizona State Senator and Senate Minority Leader, announced in February that she would not seek reelection. She is due to step down from the Commission in January 2025.
Announcing her decision in a post to X at the time, Tovar wrote, “The current Corporation Commission needs a shake-up to gain renewed focus on actually serving the people of our State and that’s why I will not be seeking a second term on the Commission. I look forward to doing all I can to support candidates who will bring new voices and perspectives to this vital work.”
Tovar is the only Democrat presently serving on the commission. Along with current Chairman Jim O’Connor, she will be replaced by newly elected Republican commissioners Rene Lopez and Rachel Walden in January.
Before serving on the commission and in the Senate, Tovar served as a member of the Arizona House and Mayor of Tolleson after working as an educator.
AZ Free News reached out to Commissioner Tovar requesting comment, however, she did not reply by the time of publishing this article.
Matthew Holloway is a senior reporter for AZ Free News. Follow him on X for his latest stories, or email tips to Matthew@azfreenews.com.
