Robert L. Gavin, and Daniel J. Hogan, North Dakota Developments LLC — Housing Fraud

stockbroker fraud lawyerNorth Dakota Developments LLC, Robert L. Gavin, and Daniel J. Hogan Allegedly Took Part in Fraudulent Practices Regarding Bakken Oil Field Housing Developments

North Dakota Developments LLC (NDD), Robert L. Gavin, and Daniel J. Hogan allegedly engaged in fraudulent practices regarding the offer and sale of investments in so-called man camp housing developments in the Bakken oil field region of North Dakota and Montana, according to documents from North Dakota Securities Commissioner (NDSC) Karen Tyler currently under review by attorneys Joe Peiffer and Jason Kane.

NDSC Karen Tyler has ordered NDD, Robert L. Gavin, and Daniel J. Hogan to Cease and Desist from engaging in further alleged fraudulent practices, which included selling interests in six different housing developments in Western North Dakota and Eastern Montana, according to reports from the NDSC.

The developments included: Great American Lodge Watford West, Great American Lodge Watford East (AKA McKenzie Crossing), Great American Lodge Montana (Culbertson, MT), Transhudson Hotel (Parshall, ND), Transhudson Apartments Williston Heights, and Bakken Base Camp.

Up to 980 Investors from 66 Countries Allegedly Invested over $62 Million through Robert L. Gavin and Daniel J. Hogan investigative records indicate 980 investors from 66 countries invested over $62 million through Gavin, Hogan and sales agents located in the United States and several other countries, according to Investigative records being reviewed by attorneys Joe Peiffer and Jason Kane.

NDD, Gavin and Hogan violated allegedly engaging in material misstatements of fact and material omissions of fact in selling securities to investors, and also engaged in misappropriation of investor funds and Ponzi like activity, according to reports from the NDSC.

Investors were allegedly told that they might expect returns as high as 42% in the first year, and a guaranteed buy-back of their investment in 3 years, the NDSC reports. There were other alleged misappropriations, the NDSC further alleges, as investor funds were used to make Ponzi like payments to earlier investors.

Investment Recovery Lawyers Investigating

The Peiffer Wolf investment recovery attorneys often represent investors who lose money as a result of investment misconduct, and are currently investigating North Dakota Developments LLC, Robert L. Gavin, and Daniel J. Hogan and their alleged fraud 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.

Any Investors who believe they lost money as a result of alleged fraud committed by North Dakota Developments LLC, Robert L. Gavin, and Daniel J. Hogan may contact the investment rights attorneys at Peiffer Wolf, Jason Kane or Joe Peiffer, for a free, no-obligation evaluation of their recovery options, at 585-310-5140.

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In our legal system, every person is innocent until and unless found guilty by a court of law or a tribunal. Whenever we reference “allegations” or charges that are “alleged,” such allegations or charges have not been proven, and are merely accusations, not findings of fault, as of the date of the blog. We do not have, nor do we undertake, a duty to continue to monitor or follow cases about which we report, and/or to publish subsequent blogs regarding various developments that may occur in such cases. Readers are encouraged to conduct their own research regarding any such cases and any developments that may or may not have occurred in such cases.