Are there any special criminal penalties for securities fraud?
Yes, securities fraud can lead to criminal penalties in Utah. The Utah criminal code states that any person found guilty of securities fraud will face a prison term of between one and fifteen years, and fines of up to twenty-five thousand dollars. Furthermore, the court can order restitution to the victims of the fraud. In addition to the criminal penalties outlined in the criminal code, the Utah Securities Division also has the authority to enforce the Utah Uniform Securities Act. This act contains a variety of administrative penalties and sanctions that can be imposed when securities fraud is committed. These penalties can include the revocation or suspension of a license, the imposition of civil penalties, and the barring of a person from engaging in any business activities related to securities. The Utah Securities Division also has the authority to seek an injunction from the court to prevent any further fraudulent activity. When an injunction is issued, it prohibits a person from engaging in any further conduct related to the fraudulent activity. In addition, the court can order the person who committed the fraud to pay restitution to the victims. Overall, there are a wide variety of criminal and administrative penalties and sanctions that can be imposed when securities fraud is committed. These penalties are intended to protect both investors and the public from future fraudulent activity.
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