Sec. 4007.203. FRAUDULENT CONDUCT; OFFENSE. (a) A person commits an offense if:
(1) the person directly or indirectly:
(A) engages in any fraud or fraudulent practice;
(B) employs any device, scheme, or artifice to defraud;
(C) knowingly makes an untrue statement of a material fact or omits to state a material fact necessary in order to make the statements made, in light of the circumstances under which they are made, not misleading; or
(D) engages in any act, practice, or course of business that operates or will operate as a fraud or deceit on any person; and
(2) the applicable conduct is committed in connection with:
(A) the sale of, the offering for sale or delivery of, the purchase of, the offer to purchase, invitation of offers to purchase, invitations of offers to sell, or dealing in any other manner in any security, regardless of whether the transaction or security is exempt under Chapter 4005; or
(B) the rendering of services as an investment adviser or an investment adviser representative.
(b) An offense under this section is:
(1) a felony of the third degree, if the amount involved in the offense is less than $10,000;
(2) a felony of the second degree, if the amount involved in the offense is $10,000 or more but less than $100,000; or
(3) a felony of the first degree, if the amount involved is $100,000 or more.
(c) An indictment for an offense under this section may be brought only before the fifth anniversary of the date the offense was committed.
Added by Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 1.01, eff. January 1, 2022.
Structure Texas Statutes
Subchapter E. Criminal Provisions
Section 4007.201. Unauthorized Sale of Securities; Offense
Section 4007.203. Fraudulent Conduct; Offense
Section 4007.204. Materially False Statement in Document or Proceeding; Offense
Section 4007.205. False Statement or Representation Concerning Registration; Offense
Section 4007.206. Violation of Cease and Desist Order; Offense
Section 4007.207. Noncompliant Offer or Offer Prohibited by Cease Publication Order; Offense