Me. Rev. Stat. » Title 32
Maine Revised Statutes

Me. Rev. Stat. tit. 32, § 16501 (2026)

General fraud

✓ current as of May 2026
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It is unlawful for a person, in connection with the offer, sale or purchase of a security, directly or indirectly:   [PL 2005, c. 65, Pt. A, §2 (NEW).]
1.  Device, scheme, artifice.  To employ a device, scheme or artifice to defraud;  
[PL 2005, c. 65, Pt. A, §2 (NEW).]
2.  Untrue statement of or omission of material fact.  To make an untrue statement of a material fact or to omit to state a material fact necessary in order to make the statements made, in light of the circumstances under which they were made, not misleading; or  
[PL 2005, c. 65, Pt. A, §2 (NEW).]
3.  Fraud, deceit.  To engage in an act, practice or course of business that operates or would operate as a fraud or deceit upon another person.  
[PL 2005, c. 65, Pt. A, §2 (NEW).]
SECTION HISTORY
PL 2005, c. 65, §A2 (NEW).
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Notes of Decisions
Cited in 6 cases (1 in the last 5 years), 2013–2026 · leading case: Philbrook v. State, 167 A.3d 1266 (Me. 2017).
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Philbrook v. State, 167 A.3d 1266 (Me. 2017). “§ 358(1)(B)(1) (2016), and securities fraud (Class C), 32 M.R.S. §§ 16501, 16508 (2012). 1 He contends that the evidence presented at his post-conviction hearing compelled the court to find that defense counsel’s representation during plea negotiations, and counsel’s illness and…”
State of Maine v. James A. Philbrook, 2013 ME 86 (Me. 2013). “§ 358(1)(B)(1) (2012), and securities fraud (Class C), 32 M.R.S. §§ 16501, 16508 (2012). Philbrook contends that the court’s jury instructions shifted the burden of proof onto him to prove his innocence.”
State of Maine v. Jody B. Flynn, 2026 ME 54 (Me. 2026). · cites it 2× “§ 354(1)(B)(1), and one count of knowing or 3 For example, Flynn spent investment funds at Cinemagic, the Common App for college applications, dental providers, DirecTV, Duckfat, Hannaford, Home Goods, Nordstrom’s, Oasis Nails & Spa, the Paint Pot, the Palms in Turks & Caicos,…”
Philbrook v. State, 167 A.3d 1266 (Me. 2017). “§ 358(1)(B)(1) (2016), and securities fraud (Class C), 32 M.R.S. §§ 16501, 16508 (2012). 1 He contends that the evidence presented at his post-conviction hearing compelled the court to find that defense counsel’s representation during plea negotiations, and counsel’s illness and…”
Philbrook v. State, 167 A.3d 1266 (Me. 2017). “§ 358(1)(B)(1) (2016), and securities fraud (Class C), 32 M.R.S. §§ 16501, 16508 (2012). 1 He contends that the evidence presented at his post-conviction hearing compelled the court to find that defense counsel’s representation during plea negotiations, and counsel’s illness and…”
Cianchette v. Cianchette (Me. Super. Ct 2019). “§ 16102(28), and that Eric and Peggy's allegedly false representations form the basis for a claim to recover damages under 32 M.R.S. §§ 16501 and 16509(2). These statutes are also at issue with respect to Eric and Peggy's counterclaims against Tucker, which allege that he…”
Me. Rev. Stat. tit. 32, § 16501(2): 1 case
State of Maine v. Jody B. Flynn, 2026 ME 54 (Me. 2026). “§ 354(1)(B)(1), and one count of knowing or 3 For example, Flynn spent investment funds at Cinemagic, the Common App for college applications, dental providers, DirecTV, Duckfat, Hannaford, Home Goods, Nordstrom’s, Oasis Nails & Spa, the Paint Pot, the Palms in Turks & Caicos,…”
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