Andrey Hicks, along with his Locust Offshore Management, LLC, has been
accused by the US Securities and Exchange Commission (SEC) of running a
hedge fund fraud and taking over a million dollars from investors. The SEC claims
that Hicks lied about his education, previous employment, and the hedge
The director of the SEC's Boston office stated that "Hicks lied
to investors about virtually every aspect of his fictitious hedge fund.
This brazen web of lies to investors constituted an outright fraud."
According to the complaint, Hicks claimed that his Locust Offshore Fund
worked on a specific mathematical model that he personally developed while
in school. Hicks is also said to have claimed that he received both graduate
and undergraduate degrees from Harvard, although, in reality, he only
spent three semesters at the university and had to withdraw due to poor
academic performance. Regarding the special mathematical model that the
hedge fund was supposedly based on, reports say that Hicks only took a
single math course at Harvard and received a D- grade. Additionally, Hicks
is said to have claimed a successful stint with Barclays Capital, but
that firm says it has no record of Hicks ever being employed with them.
The complaint also alleged further lies, including lies about the fund's
auditor, incorporation, and custodian.
Theinvestment fraud lawyers with Meyer Wilson represent investors who have lost money due to investment
fraud, stockbroker misconduct, and
breach of fiduciary duty. We have recovered millions of dollars in losses for our clients, and
look forward to working with you.