The Arizona Corporation Commission Securities Division has revoked the securities registration of Fountain Hills investment advisor Donna Beers.

In revoking the registration the commission cited Beers’ “dishonest and unethical conduct.” It is requiring her to pay $86,815 in restitution and $15,000 in administrative penalties.

The ACC findings concluded that Beers, who is also a former investment adviser representative, recommended unsuitable investments for a senior couple who was searching for a safe way to invest retirement funds.

In settling the matter Beers has neither confirmed nor denied the ACC findings, but agreed to enter into the consent order.

In its original filing of the action last year, the ACC stated that in 2007 the couple selected Beers to handle their financial investments. The documents state that Beers asked that they liquidate their existing investments and re-invest in five different opportunities, which included the proposed Fountain Hills Town Square and four other entities.

According to the filing, Beers persuaded the couple to invest $50,000 in the Town Square project, all of which was eventually lost.

The ACC stated that Beers violated the law when she misled or failed to inform the clients regarding a number of aspects related to the investment.

The commission also found that Beers led the couple to believe their $50,000 investment would be placed in escrow and would be returned if the project failed to get financing.

In a separate ruling released last week, the commission issued a default order against Promise Land Properties, LLC, a manager controlled Arizona limited liability company based in Fountain Hills.

The commission found that Promise Land Properties was not registered to offer or sell securities in Arizona at the time it offered and sold LLC membership interests to six investors in an effort to fund the acquisition and development of 1,280 acres near Tombstone, Ariz.

The investors included individuals from Arizona, Nebraska and Minnesota.

Promise Land is being required to pay $958,000 in restitution and $25,000 in administrative penalties.

ACC records identify managers for Promise Land Properties, LLC as Roger Keller and Patrick Shudak at a Cerro Alto Drive address.