SEC v. Rand Heckler

Rand Heckler allegedly solicited over $700000 in investments from an elderly investor and the investor’s son by claiming to manage a successful hedge fund through his company, Rand Heckler, Inc. According to the SEC’s complaint, Heckler allegedly never managed a hedge fund, never invested the funds, and misappropriated most of the funds to pay for his personal expenses. Further, Heckler allegedly sought to conceal his scheme by, among other things, sending phony account statements and trade confirmations to the investor and his son.

Summary generated from official Securities and Exchange Commission press release