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.
Case and case summary are also available online at: http://www.mlmlegal.com/legal-cases/NewMexico_v_Danek-Ct_Appls.php
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