Tr?id=566623520170033&ev=PageView&noscript=1

North Dakota Regulators Seek to Close Down Advisory Firm Selling Crypto and Weed Products

Posted on August 4th, 2022 at 2:33 PM
North Dakota Regulators Seek to Close Down Advisory Firm Selling Crypto and Weed Products

From the Desk of Jim Eccleston at Eccleston Law.

The North Dakota Securities Commissioner’s office is seeking to shut down a small West Fargo-based registered investment adviser (RIA) after its owner allegedly violated state securities laws and improperly took custody of $17.8 million in client funds beginning in 2017.

Under the North Dakota Securities Act, North Dakota RIAs are prohibited from taking custody of client securities and funds. The owner of Jamieson Capital Financial, Jeremy Carlson, allegedly acted as an unregistered broker-dealer while engaging in fraudulent practices, according to a statement by the commissioner, Karen Tyler.

According to regulators, Carlson allegedly collected commissions at a 3% rate, which totaled nearly $338,000. The North Dakota Securities Department launched its investigation after a routine examination exposed several deficiencies relating to the firm’s business conduct. Carlson raised investor money for several private investments he controlled, which invested funds in real estate, oil and gas, digital assets and medical marijuana.

Eccleston Law LLC represents investors and financial advisors nationwide in securities, employment, regulatory and disciplinary matters.

Tags: eccleston, eccleston law, advisors

Return to Archive

TESTIMONIALS

Previous
Next
Quotes Bigger

If you find yourself in trouble with the regulators, call Eccleston Law, you won't regret it.

Rick R.

LATEST NEWS AND ARTICLES

1791996515 Law
October 14, 2026
FINRA Study Finds Advanced Investment Knowledge Does Not Eliminate Fraud Risk

Research using the FINRA Investor Education Foundation's 2024 National Financial Capability Study found that fewer than one in five investors with non-retirement investments demonstrate advanced investment literacy.

1791918358 Law
October 13, 2026
LPL Financial Faces Investor Claims Tied to Former Broker's Outside Activities

LPL Financial faces at least nine pending investor claims involving former El Paso, Texas broker Michael C.

1791818498 Law
October 12, 2026
SEC Targets Companies in Alleged $15 Million Social Media Investment Fraud Schemes

The Securities and Exchange Commission (SEC) has charged entities behind two alleged investment fraud schemes that raised more than $15 million from investors through WhatsApp, Facebook and other online platforms.