SIOUX FALLS, S.D. (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 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 Argus Leader reports (http://argusne.ws/Xoi86F) that one of the investors was Miami Heat basketball player and South Dakota native Mike Miller.
Last year, Miller sued Hansen and Puma in state court seeking $1.7 million he'd put into RAHFCO.
The SEC says Hansen and Puma attracted more than 100 investors and collected more than $23 million. The losses allegedly totaled more than $10 million.
Hansen did not return phone messages.
Information from: Argus Leader, http://www.argusleader.com