A St. Peters, Missouri man faces federal charges for his alleged involvement
in a multi-million dollar investment scheme.
Federal authorities have charged 62-year-old Randall Lynn Stuckey with
mail fraud in connection to an investment scam that cost investors millions
of dollars. According to reports. Mr. Stuckey invested his clients’
money in the global currency markets. He set-up several entities, including
The Stuckey Group, L.P. and The Stuckey Group II, L.P., in order to misrepresent
the performance of his clients’ investments.
The multiple entities also allowed Mr. Stuckey to collect and keep certain
fees, as well as prohibit his clients from pulling their investments.
Mr. Stuckey led his clients to believe that their investments grew to
$4.8 million. In truth, the investments were worth less than $1 million.
The federal government has also taken action to seize 20 accounts held
by Mr. Stuckey. These accounts represent various business entities set
up by him and are held at 10 different financial institutions. If successful,
the government will liquidate the funds. Mr. Stuckey’s clients are
expected to benefit from the liquidation.
If Mr. Stuckey is convicted of mail fraud, he could face up to 20 years
in prison. Along with the prison sentence, he could also be fined up to $250,000.