It is unlawful for a person, in connection with the offer, sale, or purchase of subdivided land directly or indirectly, to knowingly (1) employ a device, scheme, or artifice to defraud; (2) make an untrue statement of a material fact or omit a statement of a material fact necessary in order to make the statements made, in the light of the circumstances under which they are made, not misleading; or (3) engage in an act, practice, or course of business that operates or would operate as a fraud or deceit upon a person.
Alaska Legal Code