State v. Moore

GREENWOOD, Judge:

Appellant Michael R. Moore appeals his conviction of eight counts of securities fraud, in violation of Utah Code Ann. § 61-1-1(2) (1989). We affirm.

BACKGROUND

This case arises from Moore’s sale of promissory notes to eight Utah investors between October 11, 1982 and April 15, 1983. The notes were issued by American Factoring Corporation (AFC), of which Moore was founder, president, and director. AFC was incorporated in 1981. A total of over $290,000.00 was paid to AFC by the eight investors. 1

A prospectus issued by AFC in September 1982 described AFC’s business to be primarily…