AMS Holdings, LLC; and Bradley J. Stroup, aka Brad Stroup - Administrative Consent Order

The North Dakota Insurance & Securities Department has entered a Consent Order with AMS Holdings, LLC and its principal, Bradley J. Stroup.
The Department determined that AMS Holdings and Stroup operated in North Dakota without being registered as an issuer-dealer, broker-dealer, or agent, as required under North Dakota securities law. The matter originated from a July 19, 2023 Cease and Desist Order issued by the then-Securities Department relating to promissory-note transactions executed on behalf of AMS.

Under the Consent Order :
• Stroup admits to the conduct identified in the Department's prior order.
• Stroup agrees to an 18-month prohibition from applying for registration with the Department under N.D.C.C. § 10-04-10.
• Stroup also agrees to an 18-month prohibition from offering, selling, or engaging in any securities-related transactions in North Dakota, including acting as an agent for AMS Holdings or any other entity.
• The Commissioner will rescind the July 19, 2023 order in its entirety as it relates to AMS Holdings and Stroup.
• Both the Commissioner and Stroup release all claims against one another arising from the prior administrative action.
• If Stroup violates the Consent Order, the Department may pursue additional administrative action under Chapter 10-04.

The Department determined that resolving the matter through this Consent Order conserves resources, protects the public, and serves the interests of North Dakota investors.