(a) It is unlawful for a litigation financier to enter into or offer to enter into a litigation financing agreement unless such litigation financier is registered under this chapter.

(b) A person that willfully violates this chapter shall be guilty of a felony and upon conviction thereof, shall be imprisoned not less than one nor more than five years, or fined not more than $10,000.00, or both; provided, however, that on the recommendation of the jury trying the case, when such recommendation is approved by the judge presiding on the trial, such crime shall be punished as a misdemeanor. If the judge trying the case deems it proper, such judge may, in fixing the punishment, reduce such felony to a misdemeanor.

(c) The commissioner may refer to the Attorney General or the proper prosecuting attorney the name of any person acting as a litigation financier that is not registered or any applicant or registrant that is or may not be in compliance with this chapter; provided, however, that the Attorney General or the proper prosecuting attorney may institute criminal proceedings under this chapter with or without such referral.

(d) This chapter does not limit the power of this state to punish a person for conduct that constitutes a crime under other laws of this state.