Wednesday, July 19, 2023 Categories:
Enforcement Actions

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NEWS RELEASE     |     FOR IMMEDIATE RELEASE     |     July 19, 2023

Bismarck ND  – North Dakota Securities Commissioner Karen Tyler has ordered Bradley J. Stroup of Fargo, and AMS Holdings, LLC, a company under Stroup’s control, to cease and desist from the alleged sale of at least $351,337 in unregistered promissory notes and has ordered the repayment of the investments.

The Department alleges that from on or about January 1, 2019 to January 19, 2022, Stroup and AMS sold $351,335 in promissory notes in sixteen separate transactions. The notes were purchased by Jamieson CAPEX Fund, LLC and Jamieson Natural Resources, LLC, two private funds operated and controlled by Jeremy L. Carlson of Fargo. Carlson is the subject of four previous orders issued by the Securities Department.

During the time Carlson, through CAPEX and JNR, was advancing investor funds to Stroup and AMS, Stroup was the subject of an unpaid money judgment in Cass Country District Court in favor of Stoner Management LLLP in the amount of $20,732.62 dated December 20, 2016, for unpaid rent that remains unpaid. With accrued post-judgment interest, the amount due is over $29,600.00. Stroup and AMS are also named as Defendants in a mortgage foreclosure action brought by Aspire bank on a CAPEX property located at 820 3rd St. N. in Fargo. Stroup and AMS are named as “persons in possession.”

The Department further alleges that all principal and interest accrued and owed to Jamieson CAPEX Fund, LLC and Jamieson Natural Resources, LLC remains unpaid by Stroup and AMS, and has ordered repayment in full of the unlawfully obtained investments.

Stroup is the subject of a final order issued by the Securities Department in 2010 alleging the sale of unregistered securities, acting as an unregistered securities agent, and violation of the anti-fraud prohibitions of the Securities Act.


For More Information Contact: 

North Dakota Securities Department  
Carl Karpinski, Enforcement Attorney     |      701-328-4881