George Heckler, whom the Securities and Exchange Commission in March charged with operating a decade-long $20 million investment adviser fraud, was sentenced in a parallel criminal case to 63 months in prison.
The criminal charges against Heckler stem from the same misconduct alleged in the SEC's complaint, which charged that Heckler formed two private hedge funds, Cassatt Short Term Trading Fund and CV Special Opportunity Fund, to conceal massive losses incurred by another fund he controlled.
From 2009 through 2019, according to the complaint, Heckler, whose firm was based in suburban Philadelphia, raised millions of dollars while falsely telling investors that their funds were used in very short-term equity trading that consistently generated positive returns. Instead, the complaint alleges that a substantial amount of the money was not invested at all or had been used to make Ponzi-like payments to prior investors.
The SEC's litigation against Heckler is ongoing.
Relationships are key to our business but advisors are often slow to engage in specific activities designed to foster them.
Whichever path you go down, act now while you're still in control.
Pro-bitcoin professionals, however, say the cryptocurrency has ushered in change.
“LPL has evolved significantly over the last decade and still wants to scale up,” says one industry executive.
Survey findings from the Nationwide Retirement Institute offers pearls of planning wisdom from 60- to 65-year-olds, as well as insights into concerns.
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This season’s market volatility: Positioning for rate relief, income growth and the AI rebound
