This state law is a powerful one (and beloved of Mr Cuomo's predecessor as attorney-general, Eliot Spitzer), since it does not require proof of any intenttodefraud.
Whether criminal charges ultimately emerge is usually a function of intenttodefraud and whether the charges can be proven to the far higher criminal standard of beyond a reasonable doubt.
The Martin Act is fierce in that it can preempt federal law and it does not require the New York Attorney General to prove that defendants acted with intenttodefraud, only that they acted negligently.