Favor v. State

Violation of Alabama Securities Act, §§ 8-6-3 (a) and 8-6-4, Code of Ala. 1975 (four indictments); sentence: $1000 fine and eighteen months imprisonment consecutively on each charge.

In the fall of 1975, appellant sold corporate securities on behalf of National Developers, Inc., and Alabama corporation, to several farmers in Covington County. Appellant informed the purchasers that those Series "A" 12% notes would finance the construction of a fertilizer plant in nearby Elba, Alabama. The appellant was not a registered securities dealer or salesman at the time nor were the notes registered and…