State v. Gates

PEDERSON, Justice.

Gaylord Gates was convicted by a Cass County District Court jury of three counts of securities law violation: (1) offering for sale or selling securities when not registered as a dealer or salesman (§ 10-04-10, NDCC); (2) offering for sale or selling unregistered securities (§ 10-04-04, NDCC); and (3) fraudulently offering or selling securities (§ 10-04-15, NDCC). Gates appealed, arguing (1) that the court erred in an instruction to the jury defining “evidence of indebtedness”, and (2) that the agreements he made with various people did not constitute “dealing in securities.”