Ex-Glen Cove broker pleads to $1M scheme

BY CAMERYN OAKES

A former Glen Cove investment broker pleaded guilty Friday to a grand larceny charge for running a $1 million Ponzi scheme that targeted his friends and neighbors over five years, according to the Nassau County District Attorney’s Office.

Rand Heckler, 67, began the scheme in 2015 when he recommended to his friend and friend’s son that they invest in stocks and securities that he managed. From December 2015 and until January 2020, Heckler received 24 checks from his victims totaling $755,159.

During the duration of the scheme, Heckler stole $1,004,159 from four victims.

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