§ 18.2-240 — Same; injunction

Virginia § 18.2-240

• Jurisdiction: Virginia
• Title 18.2: CRIMES AND OFFENSES GENERALLY
• Ch. 6: CRIMES INVOLVING FRAUD
• Art. 8: MISREPRESENTATIONS AND OTHER OFFENSES CONNECTED WITH SALES

Text

Any attorney for the Commonwealth may petition a court of competent jurisdiction to enjoin the further prosecution of any pyramid promotional scheme as defined in § 18.2-239, and to appoint receivers to secure and distribute in an equitable manner any assets received by any participant as a result of such scheme, any such distribution to effect reimbursement, to the extent possible, for uncompensated payments made to become a participant in the scheme. The procedure in any such suit shall be similar to the procedure in other suits for equitable relief, except that no bond shall be required upon the granting of either a temporary or permanent injunction therein. Any person who organizes an endless chain scheme and, either directly or through an agent, promotes such scheme within the Commonwealth shall be deemed subject to the personal jurisdiction of such court of competent jurisdiction under §§ 8.01-328 through 8.01-330, and shall be liable for reasonable costs and attorneys' fees in such suit.

Legislative History

Code 1950, § 59.1-67.3; 1970, c. 450; 1975, cc. 14, 15.