were each sentenced to 10 years in prison after pleading guilty last November to one count each of securities fraud and selling an unregistered security
Charges against Wichtendahl include three counts of mail fraud, three counts of wire fraud, four counts of securities fraud, four counts of selling an unregistered security
and two counts of money laundering.
Since then, 57 unregistered security
firms have been dissolved and the process of dissolving another 52 is in progress.
Ratner pleaded to selling an unregistered security
and was sentenced to probation.
He also urged the security companies for hiring ex-army and ex-police officials for better functioning of their systems, and assuring strict action against unregistered security
Several major cases have firmly established the two key principles behind the legislation: registered security interests will always trump unregistered security
interests; the PPSA effectively allows a debtor to give security over assets it doesn't own.
Last night, hundreds of Merseyside construction sites were visited as police searched for illegal immigrants, unregistered security
guards and benefit frauds.
There are only two elements to this crime: a "sale" or an "offer to sell," and an unregistered security
For the most part, if an unlicensed broker calls someone and is pitching an unregistered security
, that is a big red flag," Galindo said.
Sale of an unmarketable asset, such as real estate, closely held stock or an unregistered security
for which there is no available exemption permitting public sale.
He said: ``It relates to a licensing matter and there is also an inquiry into the possible use of unregistered security
Under section 12(1), there is no liability for the sale of an unregistered security
pursuant to an exemption.