Todd Berning in KFGO studios (Aug. 2023)
BISMARCK, N.D. (KFGO) – The former CEO and founder of Epic Companies and others associated with the company are under investigation by the North Dakota Securities Department.
The agency, in response to an inquiry from KFGO News, confirmed there is an active investigation of Epic Companies, Berning and related parties.
A spokesperson says the department is not able to provide further details as the investigation is ongoing. The statement says the department remains committed to thoroughly reviewing matters that may impact investors and the public.
Epic, a once-prominent commercial and apartment complex developer, closed its West Fargo offices just over a year ago.
Last July, Epic filed for Chapter 11 bankruptcy. Epic, Berning and company executives have been sued multiple times for money investors and contractors say they’re owed. In June 2024, Attorney General Drew Wrigley confirmed that Epic was under investigation, calling it a “concerning matter.” His office now says the securities department is handling the case.
Berning has not made any public comment since the investigation began.
As of last November, Berning was believed to be living in Minot according to a divorce filing in Traill County. He was to retain a condominium in Minot while his wife of 15 years would keep their marital home in West Fargo.
Comments