ND: Case Against Former Stockbroker to go to Trial

A judge has ruled there is enough evidence to go to trial with prosecutors’ charges that former Grand Forks and Grafton, N.D., stockbroker Ross Haugen ripped off elderly investors in Walsh County.

North Dakota District Judge Laurie Fontaine’s order finding probable cause in two cases against Haugen argued before her last month was filed in state district court in Grafton.

Haugen is charged with seven counts of selling unregistered securities, seven counts of acting as an unregistered broker/dealer and/or agent, eight counts of fraudulent practices and six counts of theft of property involving elderly investors in Walsh County sales in 2006 and 2007. He’s also charged in a separate case with three counts of conspiracy to commit theft of property, or an alternative charge of fraudulent practices, in which two other men also are charged.

All but one of the counts against Haugen are Class B felonies, each with maximum penalties of 10 years in prison and a $10,000 fine.

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Case Against Former GF, Grafton Stockbroker to go to Trial