§ 4107. Deceptive or fraudulent business practices
Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 18 Pa.C.S.A. Crimes and OffensesEffective: February 7, 2005
Effective: February 7, 2005
18 Pa.C.S.A. § 4107
§ 4107. Deceptive or fraudulent business practices
(4) sells, offers or exposes for sale adulterated or mislabeled commodities. As used in this paragraph, the term “adulterated” means varying from the standard of composition or quality prescribed by or pursuant to any statute providing criminal penalties for such variance or set by established commercial usage. As used in this paragraph, the term “mislabeled” means varying from the standard of trust or disclosure in labeling prescribed by or pursuant to any statute providing criminal penalties for such variance or set by established commercial usage;
(8) makes or induces others to rely on a false or misleading material statement to induce an investor to invest in a business venture. The offense is complete when any false or misleading material statement is communicated to an investor regardless of whether any investment is made. For purposes of grading, the “amount involved” is the amount or value of the investment solicited or paid, whichever is greater. As used in this paragraph, the following words and phrases shall mean: “Amount” as used in the definition of “material statement” includes currency values and comparative expressions of value, including, but not limited to, percentages or multiples. “Business venture” means any venture represented to an investor as one where he may receive compensation either from the sale of a product, from the investment of other investors or from any other commercial enterprise. “Compensation” means anything of value received or to be received by an investor. “Invest” means to pay, give or lend money, property, service or other thing of value for the opportunity to receive compensation. The term also includes payment for the purchase of a product. “Investment” means the money, property, service or other thing of value paid or given, or to be paid or given, for the opportunity to receive compensation. “Investor” means any natural person, partnership, corporation, limited liability company, business trust, other association, government entity, estate, trust, foundation or other entity solicited to invest in a business venture, regardless of whether any investment is made. “Material statement” means a statement about any matter which could affect an investor's decision to invest in a business venture, including, but not limited to, statements about:
“Product” means a good, a service or other tangible or intangible property of any kind;
As used in this paragraph, the term “prize” means anything of value offered or purportedly offered. The term “prize promotion” means an oral or written express or implied representation that a person has won, has been selected to receive or may be eligible to receive a prize or purported prize;
(i) provides false or misleading information to the certified public accountant, public accountant or public accounting firm in connection with performance of an attestation function for the client which results in an attestation by the certified public accountant, public accountant or public accounting firm of a materially misleading financial statement, audit, review or other document; or
(ii) fails to provide information to the certified public accountant, public accountant or public accounting firm which the person knows is material to the performance of an attestation function and which results in an attestation by the certified public accountant, public accountant or public accounting firm of a materially misleading financial statement, audit, review or other document.
(2) In addition to the authority conferred upon the Attorney General by the act of October 15, 1980 (P.L. 950, No. 164),1 known as the Commonwealth Attorneys Act, the Attorney General shall have the authority to investigate and to institute criminal proceedings for any violation of this section or any series of such violations involving more than one county of this Commonwealth or involving any county of this Commonwealth and another state. No person charged with a violation of this section by the Attorney General shall have standing to challenge the authority of the Attorney General to investigate or prosecute the case, and, if any such challenge is made, the challenge shall be dismissed and no relief shall be available in the courts of this Commonwealth to the person making the challenge.
(1) A financial institution as defined by section 509(3) of the Gramm-Leach-Bliley Act (Public Law 106-102, 15 U.S.C. § 6809(3)) or regulations adopted by agencies as designated by section 504(a) of the Gramm-Leach-Bliley Act (15 U.S.C. § 6804(a)) and subject to Title V of the Gramm-Leach-Bliley Act (15 U.S.C. § 6801 et seq.).
(2) A covered entity as defined by regulations promulgated at 45 CFR Pts. 160 (relating to general administration requirements) and 164 (relating to security and privacy) pursuant to Subtitle F of the Health Insurance Portability and Accountability Act of 1996 (Public Law 104-191, 42 U.S.C. § 1320d et seq.).
1972, Dec. 6, P.L. 1482, No. 334, § 1, effective June 6, 1973. Amended 1996, Dec. 4, P.L. 902, No. 145, § 1, effective in 60 days; 2004, April 5, P.L. 211, No. 26, § 1, effective in 60 days [June 4, 2004]; 2004, Nov. 30, P.L. 1592, No. 202, § 1, effective in 60 days [Jan. 31, 2005]; 2004, Dec. 8, P.L. 1781, No. 234, § 1, effective in 60 days [Feb. 7, 2005].
71 P.S. § 732-101 et seq.
18 Pa.C.S.A. § 4107, PA ST 18 Pa.C.S.A. § 4107
Current through 2021 Regular Session Act 100. Some statute sections may be more current, see credits for details.
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