St. Peters Resident Sentenced for Investment Fraud
Randall Lynn Stuckey, was sentenced to 36 months in prison for defrauding more than fifty clients who invested more than $2.2 million dollars with him between 2007 and July 2010.
Randall Lynn Stuckey as sentenced to 36 months in prison today.
The United States Attorney's Office announced that Stuckey, a St. Peters resident, will has been sentenced to 36 months in prison for defrauding more than 50 clients who invested more than $2.2 million dollars with him between 2007 and July 2010.
Stuckey invested clients' money under a number of names, mainly The Stuckey Group, L.P. and The Stuckey Group II, L.P. Stuckey invested money in global currency and misrepresented the performance of the investments.
The United States Attorney's Office said that by July 31, 2010, that his investments had gone from $2.2 million down to $900,000 because of losses in the market. Stuckey reported that the investments were worth $4.8 million.
In addition to the prison time, Stuckey was ordered to pay restitution of $2,298,000.
Stuckey, 62, pled guilty in October to one felony count of mail fraud and one count of fraud under the Commodities Exchange Act. In addition to the criminal charge, he was charged with a forfeiture allegation, which will require the forfeiture of $919,000 in various financial accounts.
This case was investigated by the Federal Bureau of Investigation. A parallel civil investigation has been undertaken by the Commodities Futures Trading Commission (CFTC) in Washington, DC. Assistant U.S. Attorney Tom Albus handled the case for the U.S. Attorney's office.