SEC to Reward Whistleblowers in Hedge Fund Fraud Case Against Andrey C. Hicks and His Hedge Fund Locust Offshore Management LLC
Self claimed hedge fund manager Andrey Hicks sentenced 40 months in prison for investment scam.
Andrey Hicks, a 29-year-old college dropout, portrayed himself as an exclusive hedge fund manager, boasting about two Harvard degrees and impressive experience on Wall Street. The trim, clean-cut fellow allegedly defrauded 10 investors of $1.7 million by promising outsized returns via high-frequency trading at his fictitious Locust Offshore Fund.
SEC has issued orders against two hedge fund managers and an attorney banning them from further work in their respective fields. On Friday, the SEC barred Andrey Hicks “from association with an investment adviser, broker, dealer, municipal securities dealer, municipal…
Andrey Hicks who conned clients by lying to them that he’s a Harvard-trained hedge fund manager is ordered to pay back more than $7.5 million. U.S. federal judge Richard Stearns ordered Andrey Hicks to return $2.5 million with interest to…