New Mexico v. Danek

What is the definition of a security for New Mexico State law purposes?


The Court of Appeals held that the District Court had applied the correct definition of a security, and that the District Court's discretion concerning irregularities at trial should be respected. Danek was convicted on multiple counts of fraud and selling unregistered securities related to a pyramid scheme. The trial court granted a motion for a new trial after the jury voted inconsistently to convict on certain counts, and dismiss on others. The trial court based its ruling, in part, on the definition of a security. The District Court held that the definition of a security under New Mexico State law is the same a the definition of the Ninth Circuit in Glenn W. Turner, an investment of money with profits to come primarily from the efforts others.

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