EPIC Firms Face Investigation by North Dakota Securities Department
BISMARCK, N.D. (KMOT) – EPIC Companies has been the focus of an active investigation by state investment regulators for more than a year.
The North Dakota Securities Department has been investigating the now-bankrupt company, along with its former CEO, Todd Berning, and other parties since May 2024.
Alysia Huck, communications and outreach director, confirmed the investigation with Your News Leader.
Huck added in part:
“This investigation began in May 2024. While we are unable to provide further details at this time, as the investigation is ongoing, the department remains committed to thoroughly reviewing matters that may impact investors and the public.”
EPIC, which owned properties across North Dakota, filed for Chapter 11 bankruptcy last July, following months of questions about the company’s finances.
Berning has also been named in a pair of civil suits over holdings and investments.
The North Dakota Securities Department enforces the state’s securities laws that protect citizens from dishonest investment practices through regulation and investigation.
Your News Leader reached out to an attorney listed for Todd Berning in an open civil suit in North Dakota for comment.
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