- Associated Press - Thursday, May 7, 2015

BISMARCK, N.D. (AP) - A federal judge has granted a temporary restraining order against a company accused of defrauding people who invested in housing projects in the North Dakota and Montana oil patch.

The U.S. Securities and Exchange Commission on Tuesday filed a complaint against North Dakota Developments LLC and its owners, Robert Gavin and Daniel Hogan. It accuses them of raising more than $62 million in a Ponzi-like scheme that centered on stakes in so-called “man camps” that were never built.

The SEC action seeks to recoup money from the alleged scheme.

U.S. District Judge Daniel Hovland says the defendants must stop doing business and ordered that all funds and assets be frozen. A hearing on a motion for a preliminary injunction is scheduled May 18.

Court documents do not list defense attorneys.

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