The Division of Securities has a goal of finishing an investigation and determining what action (if any) should be taken within a six month period. Depending on the complexity of the case and investigator case load, investigations can take a much shorter or longer time. Additional time will be required if violations are referred to prosecutors or other outside agencies.
Restitution to investors varies from case to case and there are many factors that come into play when determining how much (if any) an investor may receive back. The Division always tries to get money back to investors, but unfortunately there is no guarantee of this happening in every case.
If criminal charges are filed and the Division uses any of your information to file the charges you could be asked to testify in a preliminary hearing and/or a trial.
When you file a complaint with the Division, the Division will not disclose, without your permission, who has or has not filed complaints unless an official order is issued or criminal charges are filed.
Under the 61-1-1, it is possible to commit securities fraud by simply offering a security, even if no sale is made.
The Director of Enforcement reviews all complaints submitted to the Division and, if a case is opened, assigns an Investigator. Investigators interview investors and other witnesses, review documents, and analyze bank and/or trading records in order to identify potential violations of securities laws. Upon discovering a violation, the Division may bring a civil or administrative action, or refer the investigation for criminal prosecution.
Possibly. First, the Division and a federal, state, or county prosecutor must decide whether to file criminal charges. If criminal charges are filed, the matter proceeds through the court system, which may lead to a conviction. If convicted, a judge determines sentencing, which may include jail or prison.
In order to be included in a restitution order issued from criminal proceedings an investor must file a complaint with the Division.