The North Dakota Insurance & Securities Department has entered a Consent Order with AMS Holdings, LLC and its principal, Bradley J. Stroup.
The Department determined that AMS Holdings and Stroup operated in North Dakota without being registered as an issuer‑dealer, broker‑dealer, or agent, as required under North Dakota securities law. The matter originated from a July 19, 2023 Cease and Desist Order issued by the then‑Securities Department relating to promissory‑note transactions executed on behalf of AMS.
Under the Consent Order:
• Stroup admits to the conduct identified in the Department’s prior order.
• Stroup agrees to an 18‑month prohibition from applying for registration with the Department under N.D.C.C. § 10‑04‑10.
• Stroup also agrees to an 18‑month prohibition from offering, selling, or engaging in any securities‑related transactions in North Dakota, including acting as an agent for AMS Holdings or any other entity.
• The Commissioner will rescind the July 19, 2023 order in its entirety as it relates to AMS Holdings and Stroup.
• Both the Commissioner and Stroup release all claims against one another arising from the prior administrative action.
• If Stroup violates the Consent Order, the Department may pursue additional administrative action under Chapter 10‑04.
The Department determined that resolving the matter through this Consent Order conserves resources, protects the public, and serves the interests of North Dakota investors.