Hedge Funds

Phony Hedge Fund Nets Ny Man $700,000, Sec Says

by fa-mag.com posted 5months ago 21 views
A Long Island, N.Y., man who was previously barred from the financial industry has been charged with defrauding investors by falsely claiming to manage a successful hedge fund, the Securities and Exchange Commission announced Wednesday. According to the SEC's complaint, since at least 2015, Rand Heckler of Glen Cove, a former broker who was barred from the industry by the Financial Industry Regulatory Authority in 2019, solicited more than $700,000 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.

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