Randall L. Stuckey's legal troubles keep mounting.
In February of 2011 the resident for defrauding more than 50 clients who invested more than $2.2 million dollars with him between 2007 and July 2010 by the United States Attorney's Office. Later that month, the United States Commodity Futures Trading Commission (CFTC) has filed an .
Using much of the same facts that sent Stuckey to prison, a decision on the lawsuit was made on July 11 by judge Carol E. Jackson of the U.S. District Court for the Eastern District of Missouri. The judge imposed a $250,000 civil monetary penalty against defendants Randall L. Stuckey and his Missouri-based business entities, Stuckey Group, L.P., Stuckey Group II, L.P. and Oakwood Development Company, L.P. Along with the monetary loss, the order also forces permanent trading and registration bans against the defendants.
In April 2011, the court entered a consent order of permanent injunction against the defendants because it found that they violated the anti-fraud provisions of the Commodity Exchange Act. Stuckey and his businesses were found to have received approximately $2.87 million from more than 65 members of the general public to engage in the speculative trading of illegal off-exchange forex futures contracts between January 2007 and July 31, 2011. Stuckey did all the work from his home in St. Peters.
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. But that's not what Stuckey's records showed. He had reported that the investments were worth $4.8 million.
Stuckey pled guilty in October 2010 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.