Judge suggests Dacono outlet mall settlement

PHOENIX — An Arizona administrative-law judge has recommended nearly $5.3 million in restitution and fines for the fourth and final defendant in an apparent real estate scam case stemming from a failed shopping-mall project in Dacono.

The Arizona Corporation Commission is scheduled to consider the recommendation in Charles Ray Stedman’s case at its Dec. 18 to 19 meeting.

Nearly a year ago, the commission accused Stedman, Wendell “Ted” Decker, Keith “Skip” Davis and Charles Testino of fraud, selling unregistered securities and being unregistered dealers. The case centered on property in Dacono and a now nine-year effort to turn it into the Dacono…