As I referenced above AZ received a slap on the wrist from the SEC ... Matt Levine in Dealbreaker magazine: "a $25,000 fine is I guess a little harsh for a scam that didn’t actually hurt anyone, but at the same time it’s a little mild for an intentionally scammy effort to steal millions of dollars, failed or not."
Interesting that Blackhawk Partners is still very much in business. AZ is still President & CEO of Blackhawk and overseeing the business of "originating, structuring & acting as equity investor in management-led buyouts, strategic equity investments, consolidations, growth capital financings, & trading key physical commodities."