Any person who wilfully violates any provision of this chapter except Section 35-1-160, who wilfully violates any rule or order under this chapter, or who wilfully violates Section 35-1-160, knowing the statement made to be false or misleading in any material respect, is guilty of a:

1. (1) felony and, upon conviction, must be fined not more than fifty thousand dollars or imprisoned not more than ten years, or both, if the person's actions result in loss to an investor of twenty thousand dollars or more;
2. (2) felony and, upon conviction, must be fined in the discretion of the court or imprisoned not more than five years, or both, if the person's actions result in loss to an investor of more than one thousand dollars but less than twenty thousand dollars;

3. (3) misdemeanor and, upon conviction, must be fined not more than thirty thousand dollars or imprisoned not more than three years, or both, if the person's actions result in loss to an investor of one thousand dollars or less, or if no losses are proven.

   However, no person may be imprisoned for the violation of any rule or order if he proves that he had no knowledge of the rule or order.