Fraudulent Interstate Transactions
Section 17 of the Securities Act declares it unlawful in the offer or sale of any securities to:
- • Employ any device, scheme, or artifice to defraud
- • Profit by means of an untrue statement or omission of a material fact
- • Engage in any transaction or activity that would defraud or deceive the purchaser
Section 17 further prohibits any person (in this case “person” refers to
