Sea Cliff/Glen Head Herald 10-08-2020

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__________ SEA Cliff/glEn hEAd __________

HERALD Gazette

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Vol. 29 No. 41

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G.H. broker arrested in Ponzi scheme $1 million — to pay for his mortgage, country club membership and other expenses. Investment A former investment broker brokers have a responsibility to from Glen Head has been arrest- their clients, but based on these ed and charged with swindling allegations, Rand Heckler cared friends and neighbors out of only about his bottom line.” more than $1 mil“The district lion in a Ponzi attorney’s investischeme. gation thus far has Rand Heckler, 55, been wholly inadewas arraigned Oct. quate, and they’ve 1 before Nassau Disjumped to conclutrict Court Judge sions,” said HeckKaren Moroney on ler’s attorney, Michthree counts of secael Finkelstein. ond- and third-deHis firm, he said, gree grand larceny plans to conduct its and first-de g ree own investigation scheme to defraud. into the allegations. He was released When the two invesand is due back in tigations are concourt on Nov. 13. cluded, he said, he I f c o nv i c t e d , is confident the Heckler f aces a charges will be dismaximum of five to missed. MaDEliNE 15 years in prison. According to “Rand Heckler SiNGaS Singas, Heckler recalle g edly duped District attorney ommended to a friends, neighbors friend and the and complete stranfriend’s son that gers into investing their savings they invest in a hedge fund of in a Ponzi scheme that fueled his stocks and securities he was extravagant lifestyle,” Nassau managing in 2015. The offer was County District Attorney Made- only to be for Heckler’s closest 15 line Singas said in a statement. to 20 friends and associates. “The defendant allegedly used his clients’ money — more than Continued on page 15

By MikE CoNN

mconn@liherald.com

i

Christina Daly/Herald Gazette

Decisions, decisions There was an assortment of raffle prizes at the St. Luke’s Fall Bazaar, and 3-year-old Robbie Himes entered to win a golf rangefinder for his dad. Story, page 3.

A new Gold Coast Library is proposed for Glen Head By MikE CoNN mconn@liherald.com

The Gold Coast Library board of trustees last week announced plans to purchase land and build a new library at 180 Glen Head Road in Glen Head. Library Director Mike Morea said the entire project should cost roughly $11.3 million. The library hopes to draft a $10.8 million bond to cover most of the

cost. Board President Nancy Benchimol said the remaining $500,000 would come from the library’s capital fund. George Pombar, president of the Glenwood-Glen Head Civic Association, said it had worked closely with the library during the planning process, helping it shape a deal with the property’s owners. If the bond were to pass, Pombar said, a Glen Head home valued at $600,000 would see a

tax increase of roughly $100 to $120 per year. He added that the new library would likely add value to residents’ homes. The building, Pombar said, would occupy the western half of the Glen Head Road property. Johnson Development Associates Inc., a South Carolina real estate developer, is seeking to purchase the rest of the property and turn it into a storage facility. Continued on page 4

nvestment brokers have a responsibility to their clients, but based on these allegations, Rand Heckler cared only about his bottom line.


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