Sioux Falls man accused of bilking Mike Miller in hedge fund scam
SIOUX FALLS (AP) -- A complaint filed by the Securities and Exchange Commission accuses a South Dakota man and his business partner of bilking investors out of millions of dollars.
Court documents allege that 64-year-old Randy Hansen, of Sioux Falls, was the public face of RAHFCO Hedge Funds, and 41-year-old Vincent Puma, of New Jersey, concocted phony account statements to misrepresent their trading success.
The media reports that one of the investors was Miami Heat basketball player and Mitchell native Mike Miller.
Miller filed a separate complaint in federal court last year seeking $200,000 from Hansen.
The SEC says Hansen and Puma attracted than 100 investors and collected more than $23. The losses to individuals allegedly totaled more than $10 million.
Hansen did not return phone messages left by the newspaper.