Glen Cove man pleads guilty to running $1 million Ponzi scheme

Rand Heckler spent the money on his mortgage, a country club membership, as well as credit card payments and daily expenses.

News 12 Staff

Apr 21, 2023, 7:20 PM

Updated 430 days ago

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A Glen Cove man has pleaded guilty to running a $1 million Ponzi scheme for nearly five years.
Nassau District Attorney Anne Donnelly says 67-year-old Rand Heckler told friends to invest in a hedge fund that he was managing.
Heckler received checks that victims thought would be going toward stocks, but the 67-year-old spent the money on his mortgage, a country club membership, as well as credit card payments and daily expenses.
He is expected to serve 2 1/2 to seven and a half years in prison.


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