Question

Questions :- Which of the following statements is correct:

		Good faith is essentially the opposite of acting with scienter.
		A person who acts in good faith may also violate Section 10(b) of the Exchange Act.
		A person who acts in good faith may also violate Section 17(a)(1) of the Securities Act.
		Scienter can only be proven by establishing that a defendant intentionally sought to defraud the victim.

Questions :-Which of the following statements is correct:

		It's possible for the same underlying fraudulent scheme to constitute mail fraud, wire fraud, and securities fraud.
		It's not possible for the same underlying fraudulent scheme to constitute mail fraud, wire fraud, and securities fraud.
		It's possible for the same underlying fraudulent scheme to constitute mail fraud and wire fraud, but not securities fraud.
		It's possible for the same underlying fraudulent scheme to constitute securities fraud and wire fraud, but not mail fraud.

Answer 1

Ans:

1) Scienter can only be proven by establishing that a defendant intentionally sought to defraud the victim.

2) It's possible for the same underlying fraudulent scheme to constitute securities fraud and wire fraud, but not mail fraud.