A banking expert witness opines on a case involving a securities dealer who was convicted of illegal securities sales using a Caribbean bank. The defendant in this criminal case was convicted of selling unregistered securities, selling securities without being a registered dealer and fraudulent sale of securities with an aggregate value of more than $100,000. The defendant worked at an investment firm. He was contacted by state security officials and told he should not be selling viatical contracts because viaticals are securities and he was not registered to sell securities. Seven months later, state securities officials executed a warrant on the defendant’s office and seized numerous investment materials, including certificates of deposit (CDs), which the state contended constituted securities. The defendant had been offering CDs through international banks doing business in the Caribbean. The defendants’ clients purchased the CDs after the defendant assured them that they were safe. Following the purchases, the buyers received initial interest payments and then received nothing. The state filed numerous securities violations against the defendant and he was convicted in state court on three counts. An appeals panel reversed his conviction. The state then appealed and the case was remanded.