Dakota Plains Holdings Co-Founder Sentenced For Stock Manipulation Scheme
Ryan Gilbertson also was fined $2 million and ordered to pay more than $15 million in restitution
MINNEAPOLIS, MN — A Minnesota man who helped found a business in North Dakota’s oil patch has been sentenced to 12 years in prison for fraud in a stock manipulation scheme.
Ryan Gilbertson also was fined $2 million and ordered to pay more than $15 million in restitution.
The U.S. attorney’s office says Gilbertson co-founded Dakota Plains Holdings, which owned a North Dakota facility that loaded oil onto rail cars.
He was accused of manipulating the company’s stock after it went public in 2012.
A spokesman for Gilbertson says he plans to appeal.
Dakota Plains filed for bankruptcy in 2016.