ST. PETERS, MO – Randall L. Stuckey was penalized $250,000 and permanently banned from trading and registration following a judgment entered by Judge Carol E. Jackson of the U.S. District Court for the Eastern District of Missouri on July 11, 2012. The ruling stems from a complaint filed by the U.S. Commodity Futures Trading Commission (CFTC) on February 18, 2011, alleging an illegal off-exchange foreign currency (forex) scheme.
The CFTC complaint detailed that from January 1, 2007, through July 31, 2010, Stuckey and his Missouri-based businesses – Stuckey Group, L.P., Stuckey Group II, L.P., and Oakwood Development Company, L.P. – fraudulently obtained approximately $2.87 million from over 65 individuals. The funds were used for speculative trading of illegal off-exchange forex futures contracts. Stuckey operated the scheme from his residence in St. Peters, Missouri.
A consent order issued on April 27, 2011, had already established that Stuckey violated the anti-fraud provisions of the Commodity Exchange Act. This latest judgment reinforces those findings and adds significant financial penalties and trading restrictions.
This civil action complements a related criminal prosecution. In February 2011, Stuckey was sentenced to 36 months in prison and ordered to pay $2,298,454 in restitution to defrauded customers. He was also required to forfeit $919,000 from financial accounts, according to court records (United States v. Randall Lynn Stuckey, Criminal No. 4:10-cr-00444-CEJ (E.D. Mo.)).
The CFTC acknowledged the assistance provided by the U.S. Attorney’s Office for the Eastern District of Missouri and the Federal Bureau of Investigation in this case. Peter M. Haas, Danielle E. Karst, Kyong J. Koh, Paul G. Hayeck, and Joan Manley of the CFTC’s Division of Enforcement were responsible for the investigation.
The judgment was issued on July 18, 2012, marking the culmination of a multi-agency effort to address the fraudulent scheme.
Source: CFTC.gov
Related Federal Cases
- Albert Davis, Wire Fraud, Kansas City, MO, 2023 · Texas
- Russell Hopkins, Securities Fraud Conspiracy, Kansas City MO, 2023 · Missouri
- Reta Jo Carpenter, Social Security Fraud, MO, 2023 · Nevada
- Lisa Kaye Barwick-Majeski, Nigerian Fraud Scheme, MO, 2023 · Illinois
- Mohamed Laye Dioubate, Credit Card Fraud, Beaumont TX, 2024 · Washington
MORE FEDERAL CRIME NEWS
US NewsUS NewsUS NewsUS News