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St. Peters man accused of investment fraud

Wednesday, August 25, 2010 | 4:31 p.m. CDT

ST. LOUIS — A currency trader from St. Charles County faces federal indictment for allegedly defrauding clients who invested more than $2.4 million with him.

Federal prosecutors announced Wednesday that 62-year-old Randall Lynn Stuckey of St. Peters has been indicted on one count of mail fraud.

The U.S. Attorney's office says Stuckey defrauded more than 50 investors over a three-year period by misrepresenting the performance of their investments so that he could collect additional fees and keep the clients from dropping out.

Authorities say Stuckey claimed the investments had grown to about $4.8 million, but they had in fact dwindled to less than $1 million.

Stuckey has pleaded not guilty. His lawyer says he is cooperating with investigators.

 


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