ND Securities Department
600 East Boulevard Avenue State Capitol, 5th Floor
Bismarck, ND 58505-0510
Phone:
(701)-328-2910
Toll Free:
(800)-297-5124

Enforcement & Investment Fraud

magnifying glass with the word fraud

Do you know the warning signs of fraud?  Have transactions occurred in your investment account that you are concerned about?  The following section will discuss the signs of investment fraud and other common violations of the North Dakota securities laws.
Learn More

enforcement badge

The North Dakota Securities Department has taken numerous actions against individuals and firms that have violated the North Dakota securities laws. The actions are searchable by the individual’s name, business name, type of action, or year. 
Learn More

complaint form

What steps should I take if I believe I am victim of securities fraud or questionable transactions have occurred in my account?  The following information will assist you completing a complaint form.
Learn More

exclamation point - alert

On March 7, 2013, an Amended Information identifying additional charges related to securities fraud and sale of unregistered securities were filed in Cass County against Robert H. Medhus.
Learn More

The North Dakota Securities Department (NDSD) is responsible for the enforcement of the North Dakota securities laws (N.D.C.C. 10-04) that protect citizens from dishonest investment practices, and regulate the people and companies offering investment opportunities.  The Securities Department takes investment fraud very seriously and works diligently to prevent it. We investigate hundreds of complaints every year, and have helped many North Dakotans recover money from fraudulent schemes. We also work with local, state, and federal law enforcement agencies to bring promoters of fraud to justice.

If someone provides you with the “Too Good to be True” investment opportunity, it usually is too good to be true, and that person may be trying to con you, or if you believe any part of a transaction is misrepresented, contact our Department to obtain information on filing a complaint.

Generally, all firms and individuals who sell securities as part of their business, or who charge fees for providing investment advice in the State of North Dakota must be registered with the North Dakota Securities Department.  Not every firm or individual is granted an automatic registration. If the Department determines a firm or individual does not have a good business reputation and has had considerable complaints, we will not register them in North Dakota.

People are encouraged to contact our Department to verify registration before doing business with firms, agents, or investment advisers. We can also provide information regarding disciplinary and registration history. Individuals may also check an agent’s registration on their own by accessing the Financial Industry Regulatory Authority’s BrokerCheck program with links located on this website.

For additional information on Investment Fraud, Reporting a Complaint, and Enforcement Actions click on the links above.

If you are a resident on the eastern side of North Dakota the Department has an investigator staffing a satellite office in Grand Forks for your convenience.  See the contact information listed below for the Bismarck and Grand Forks offices.

Department Contacts

Enforcement Contact (Kelly)

Kelly Mathias

Supervisor Investigations & Examinations
600 East Boulevard Avenue State Capitol, 5th Floor
Bismarck, ND 58505-0510
Phone:
(701) 328-2929
Toll Free:
(800) 297-5124
Fax:
(701) 328-0149
Enforcement Contact (Doug)

Doug Smith

Investigator
600 East Boulevard Avenue State Capitol, 5th Floor
Bismarck, ND 58505-0510
Phone:
(701) 328-2926
Toll Free:
(800) 297-5124
Fax:
(701) 328-0148
Enforcement Contact (Rachel)

Rachel Rice

Investigator
Grafton Satellite Office
701 W. 6th Street, #312
Grafton , ND 58237
Phone:
(701) 352-4592
Fax:
(701) 328-0126
Email:
Enforcement Contact (Michael)

Michael F. Daley

Attorney/Deputy Commissioner
600 East Boulevard Avenue State Capitol, 5th Floor
Bismarck, ND 58505-0510
Phone:
(701) 328-4701
Toll Free:
(800) 297-5124
Fax:
(701) 328-0127