A. Any person who shall knowingly and willfully make, or cause to be made, any false statement in any book of account or other paper of any person subject to the provisions of this chapter, or knowingly and willfully exhibit any false paper to the Commission, or who shall knowingly and willfully commit any act declared unlawful by this chapter, with the intent to defraud any purchaser of securities or user of investment advisory services or with intent to deceive the Commission as to any material fact for the purpose of inducing the Commission to take any action or refrain from taking any action pursuant to this chapter, shall be guilty of a Class 4 felony.
B. Any person who shall knowingly make or cause to be made any false statement in any book of account or other paper of any person subject to the provisions of this chapter or exhibit any false paper to the Commission or who shall commit any act declared unlawful by this chapter shall be guilty of a Class 1 misdemeanor.
C. Prosecutions under this section shall be instituted by indictments in the courts of record having jurisdiction of felonies within three years from the date of the offense.
Code 1950, §§ 13-152, 13-155; 1956, c. 428; 1977, c. 484; 1987, c. 678.
Notes of Decisions
Welsh v. Commonwealth, 416 S.E.2d 451 (Va. Ct. App. 1992).
· cites it 6× “Welsh entered a conditional guilty plea to one felony count for selling unregistered securities with intent to defraud the purchaser in violation of Code § 13.1-520(A), one misdemeanor count for transacting business as an unregistered agent in violation of Code § 13.”
Ascher v. Commonwealth, 408 S.E.2d 906 (Va. Ct. App. 1991).
· cites it 6× “We hold the instruction was adequate because, on these facts, there is no context in which the jury could have found the notes at issue not to have been securities within the proscriptions of Code §§ 13.1-520 and 13.1-501. Therefore, there were no facts to support the giving of…”
Lintz v. Gulf Partners Ltd., 613 F. Supp. 543 (W.D. Va. 1985).
“Code § 13.1-520. It cannot be disputed that Virginia has a legitimate interest in applying its securities laws to operations conducted within the state, even if aimed at non-residents.”
Maine v. Leonard, 353 F. Supp. 968 (W.D. Va. 1973).
· cites it 2× “This court feels that the two-year limitation contained in Virginia’s Blue Sky statutes (§§ 13.1-520 and 522 of the Virginia Code) should be applied as the statute which most closely resembles and best effectuates the federal policy at issue.”
Maine v. Leonard, 365 F. Supp. 1277 (W.D. Va. 1973).
“§ 78j (§ 10 of the Securities and Exchange Act of 1934) and Rule 10b-5 thereunder ( 17 C.F.R.”
Va. Code Ann. § 13.1-520(A): 2 cases
Ascher v. Commonwealth, 408 S.E.2d 906 (Va. Ct. App. 1991).
“We hold the instruction was adequate because, on these facts, there is no context in which the jury could have found the notes at issue not to have been securities within the proscriptions of Code §§ 13.1-520 and 13.1-501. Therefore, there were no facts to support the giving of…”
Welsh v. Commonwealth, 416 S.E.2d 451 (Va. Ct. App. 1992).
“Welsh entered a conditional guilty plea to one felony count for selling unregistered securities with intent to defraud the purchaser in violation of Code § 13.1-520(A), one misdemeanor count for transacting business as an unregistered agent in violation of Code § 13.”
Va. Code Ann. § 13.1-520(B): 1 case
Welsh v. Commonwealth, 416 S.E.2d 451 (Va. Ct. App. 1992).
“Welsh entered a conditional guilty plea to one felony count for selling unregistered securities with intent to defraud the purchaser in violation of Code § 13.1-520(A), one misdemeanor count for transacting business as an unregistered agent in violation of Code § 13.”
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