Investment adviser cops to $2.4M currency scam

A suburban St. Louis man admits that he defrauded more than 50 clients who invested some $2.4 million with him.

Sixty-two-year-old Randall Stuckey of St. Peters pleaded guilty Wednesday in federal court in St. Louis two felony fraud counts. Sentencing was set for Jan. 25.

Federal prosecutors say that from 2007 through mid-July of this year, Stuckey misrepresented the performance of his clients’ investments in global currency markets so he could collect additional fees and to keep his clients’ from pulling their investments.

Along the way, authorities say, Stuckey falsified client account statements.