Call Now For a Free Consultation:
(614) 532-4576
Nationwide Representation

Hedge Fund Fraud Was "Brazen Web of Lies"

Andrey Hicks, along with his Locust Offshore Management, LLC, has been accused by the US Securities and Exchange Commission (SEC) of running a hedge fund fraud and taking over a million dollars from investors. The SEC claims that Hicks lied about his education, previous employment, and the hedge fund's assets.The director of the SEC's Boston office stated that "Hicks lied to investors about virtually every aspect of his fictitious hedge fund. This brazen web of lies to investors constituted an outright fraud."According to the complaint, Hicks claimed that his Locust Offshore Fund worked on a specific mathematical model that he personally developed while in school. Hicks is also said to have claimed that he received both graduate and undergraduate degrees from Harvard, although, in reality, he only spent three semesters at the university and had to withdraw due to poor academic performance. Regarding the special mathematical model that the hedge fund was supposedly based on, reports say that Hicks only took a single math course at Harvard and received a D- grade. Additionally, Hicks is said to have claimed a successful stint with Barclays Capital, but that firm says it has no record of Hicks ever being employed with them. The complaint also alleged further lies, including lies about the fund's auditor, incorporation, and custodian. The investment fraud lawyers with Meyer Wilson represent investors who have lost money due to investment fraud, stockbroker misconduct, and breach of fiduciary duty. We have recovered millions of dollars in losses for our clients, and look forward to working with you.

The information contained in The Firm’s posts on its blog, fraud alerts, investigations or elsewhere on the site is based upon information obtained from other sources including, but not limited to, news outlets and federal, state, and regulatory agency filings. All suspects and subjects of postings herein are presumed innocent until proven guilty in a court of law or administrative action and any and all crimes are alleged until a court or regulatory agency finds otherwise .

Share This Story
If you found the information provided by this article useful, consider sharing to your social media channels to help others in their search for reliable resources.
Consult with Our Legal Team
There is never a cost associated with a consultation
Atlanta Office

945 East Paces Ferry Road, Suite 2275
Atlanta, GA 30326
Columbus Office

614-224-6000
305 W. Nationwide Blvd
Columbus, OH 43215
Meyer Wilson
New Orleans Office

900 Camp Street 
Suite 337
New Orleans, LA 70130
Los Angeles Office

310-905-8688
2029 Century Park East,
Suite 400N
Los Angeles, CA 90067
Cleveland Office

216-600-1355
4781 Richmond Rd.
Suite 400
Warrensville Heights, OH 44128
Bloomfield Hills Office

248-817-8214
41000 Woodward Ave.,
Suite 350
Bloomfield Hills, MI 48304
Quick Links
The information contained in this Website is provided for informational purposes only, and should not be construed as legal advice on any subject matter. No recipients of content from this site, clients or otherwise, should act or refrain from acting on the basis of any content included in the site without seeking the appropriate legal or other professional advice on the particular facts and circumstances at issue from an attorney licensed in the recipient's state. Read More
The information contained in this Website is provided for informational purposes only, and should not be construed as legal advice on any subject matter.
Read More
chevron-down linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram