Tefteller Law Assists Investors Of North Dakota Developments

July 02, 2015 - PRESSADVANTAGE -

Christopher Bebel and Tefteller Law, PLLC of Gilmer, TX are assisting investors who have lost money to North Dakota Developments, LLC. The U.S. Securities and Exchange Commission has directed a lawsuit against two developers of North Dakota Developments, LLC. Allegations against Robert L. Gavin and Daniel J. Hogan state that the two sold interests in housing developments fraudulently.

Karen Tyler, Commissioner for North Dakota Securities, ordered a Cease and Desist against the company, forcing them to stop offering investments for sale in man camp housing developments within the Bakken Oil Field region, covering Montana and North Dakota.

The SEC filed a motion for a temporary restraining order with the U.S. District Court, citing that nearly 1,000 investors from more than 60 countries were promised high returns on their investments, yet they have instead been "taken" for millions of dollars. Investors were told that they could expect more than 40% in ROI after investing a collective $62 Million, as well as a guaranteed buy-back of investment in the next three years.

Those promises however, misled investors. Hogan and Gavin failed to fully disclose everything to their investors, signaling the SEC to step in. The agency alleges that accounting records for the development firm are incomplete and that the company has failed to track project expenses. Other concerns involve misappropriating investment funds.

According to a spokesman at the SEC, Hogan and Gavin have engaged in a "business that is operating as a fraud. This is a Ponzi Scheme, plain and simple."
Tefteller Law, PLLC has stepped in to assist investors in the development fraud. Attorneys at the law firm have represented numerous investors and urge anyone who has fallen victim to this Ponzi Scheme to contact them immediately.

While the firm makes no promise that all funding can be recovered, they are assisting many investors, using their decades of experience in recouping investments lost during such fraudulent activities.

About Christopher Bebel, Esq.

Chris Bebel has experience in securities frauds. A former SEC attorney and Assistant U.S. Attorney, Bebel has authored several scholarly publications that deal with various securities fraud topics. Bebel earned his LLM (Securities Regulation" from Georgetown University Law Center in Washington, D.C. His legal commentary and analysis have been featured in such publications as the New York Times, the Wall Street Journal, the Chicago Tribune, and the Los Angeles Times.
He works in conjunction with other seasoned attorneys from Tefteller Law, PLLC, primarily Jarom Tefteller, who is a member of the Million Dollar Advocates Forum as well as the Multi-Million Dollar Advocates Forum.

The SEC states that "Oil development in North Dakota routines makes headlines on a local, national, and international level. It's important to remember that con artists follow those headlines, looking for their next opportunity to exploit investors".

The agency also cautions that anyone looking to invest conduct extensive research and ensure that they are investing in a legitimate opportunity. Guarantees of high returns or high pressure sales tactics are nearly always a sign of fraud. Those who have been defrauded should contact an attorney to seek reparation.

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For more information about Tefteller Law, PLLC, contact the company here:

Tefteller Law, PLLC
Chris Bebel
(903) 843-5678
ChrisB@teftellerlaw.com
403 West Tyler St.
Gilmer, TX 75644