Published August 01 2012
Fargo company ordered to stop selling securitiesFARGO – North Dakota Securities Commissioner Karen Tyler has ordered Freedom USA Investing LLC and its agent, James Young, of Fargo, to cease and desist from the offer and sale of securities in the state.
According to a statement released by the North Dakota Securities Department:
Freedom USA Investing and Young offered to sell real estate investment contracts through Internet advertising to North Dakota residents in violation of state laws.
The securities offered have not been registered with the Securities Department and Freedom USA Investing and Young are not registered as brokers or agents in the state.
Young said this afternoon that prior to being contacted by the media he was unaware of the order.
He said he has since deleted a page on the company Website that solicited people to invest in the company, which he said is in the business of purchasing mortgage notes from banks.