Dakota Plains Holdings & Ryan Gilbertson—Fraudulent Stock Scheme Charges
Dakota Plains Holdings & Co-Founder Ryan Gilbertson Allegedly Ran a Stock Scheme Comprised of Bonus Payments of over $30 Million
Dakota Plains Holdings & Co-Founder Ryan Gilbertson allegedly operated a stock scheme which involved bonus payments of over $30 million, according to SEC Documents currently under review by attorneys Jason Kane and James Booker.
Peiffer Wolf Carr & Kane securities practice lawyers are investigating investment recovery options on behalf of investors in issues related to Dakota Plains Holdings & Co-Founder Ryan Gilbertson’s alleged stock scheme.
Investors who believe they may have lost money in activity related to Dakota Plains Holdings & Co-Founder Ryan Gilbertson’s alleged stock scheme are encouraged to contact attorneys Jason Kane or James Booker with any useful information or for a free, no obligation discussion about their options.
Ryan Gilbertson, 41, and of Delano, is facing 13 counts of wire fraud disseminating from an alleged stock manipulation that transpired after Dakota Plains went public in 2012, the Complaint reports. Gilbertson was charged by a federal grand jury in Minnesota with 13 counts of wire fraud, according to reports from Minnesota.
Gilbertson also allegedly violated multiple federal securities laws in connection with Dakota Plains’ public offering, according to the SEC.
Michael Reger, who co-founded Dakota Plains back in 2008, also made an agreement to pay nearly $8 million after settling separate SEC claims related to Dakota Plains, the SEC notes. It should also be noted that Reger neither admitted nor denied the SEC’s findings.
Gilbertson and Reger became known for their part with Northern Oil & Gas, a publicly owned company that holds oil leases in North Dakota and based in Wayzata, according to reports from North Dakota.
The Peiffer Wolf Carr & Kane securities lawyers are currently investigating Dakota Plains Holdings & Co-Founder Ryan Gilbertson’s alleged stock scheme.
Ryan Gilbertson and Michael Reger Allegedly Established their Own Fathers as Figurehead Executives to Operate Dakota Plains; Gilbertson and Reger Allegedly Ran the Company in Secret and Dakota Holdings Allegedly Issued Notes to Gilbertson and Reger with Lavish Terms
Ryan Gilbertson and Michael Reger allegedly installed their own Fathers as figurehead executives to Operate Dakota Plains, according to SEC Documents presently being reviewed by attorneys Jason Kane and James Booker.
In actuality, Gilbertson and Reger allegedly ran the Dakota Plains in secrecy, said SEC Documents note.
Dakota allegedly issued notes to Gilbertson and Reger with benevolent terms which included bonus payments which were based on the price of Dakota Plains stock during its first 20 days of trading, the SEC Documents report.
The SEC Documents then detail how Gilbertson, a major Dakota Plains shareholder, allegedly personally bought $3 million of the notes, instruments which carried a 12 percent interest rate.
Gilbertson and other holders of Dakota notes would then allegedly get bonuses if Dakota Plains’ average stock price went above $2.50 per share, according to SEC Documents. Hence, as the stock rose, so did the bonuses.
Dakota Plains‘ stock shot up to $12 in the first few weeks of trading, but then tapered off, the SEC states.
Securities Lawyers Investigating
The Peiffer Wolf Carr & Kane securities lawyers often represent investors who lose money as a result of investment fraud and are currently investigating Dakota Plains Holdings & Co-Founder Ryan Gilbertson’s alleged stock scheme. They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients.
Investors who believe they lost money as a result of Dakota Plains Holdings & Co-Founder Ryan Gilbertson’s alleged stock scheme may contact the securities lawyers at Peiffer Wolf Carr & Kane, Jason Kane or James Booker, for a free no-obligation evaluation of their recovery options, at (585) 310-5140 or via e-mail at email@example.com or firstname.lastname@example.org.