Reported by Star Tribune

An oil industry executive from Minnesota who co-founded a business that loaded crude oil from the North Dakota oil patch onto rail cars has been found liable in a stock manipulation scheme.

A federal jury in New York on Tuesday found Michael Reger liable for securities fraud in a lawsuit filed in 2016 against numerous defendants, including Reger and Ryan Gilbertson, co-owner of Wayzata-based Dakota Plains Holdings. Reger was not foundy liable for insider trading.

The lawsuit alleges that Reger and Gilbertson intentionally manipulated the price of Dakota Plains stock in its first 20 days of trading.

Read full report: https://winonadailynews.com/news/local/minnesota-oil-executive-found-liable-in-securities-fraud-lawsuit/article_6cb36dc0-adc6-5998-b8f0-ea4babb4c6d4.html