Investigation Launched into Former Epic Companies CEO Todd Berning
BISMARCK, N.D. (KFGO) – Todd Berning, the founder and former CEO of Epic Companies, is currently under investigation by the North Dakota Securities Department. This inquiry follows numerous allegations from investors and contractors claiming they are owed significant amounts of money. A spokesperson for the department confirmed that while details remain undisclosed due to the ongoing nature of the investigation, they are committed to scrutinizing potential issues affecting public investors.
Epic Companies, once a significant player in the commercial and residential development sector, has faced a turbulent year, closing its West Fargo offices and filing for Chapter 11 bankruptcy in July. The company, along with Berning and fellow executives, has been subjected to multiple lawsuits concerning alleged financial misconduct.
In June 2024, North Dakota Attorney General Drew Wrigley referred to the situation as concerning, subsequently passing the matter to the Securities Department. As of last November, Berning was reported to be residing in Minot, following a divorce filing, in which he was to keep a condominium there while his estranged wife retained the family home in West Fargo.
Berning has not made any public statements regarding the investigation.
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