BOSTON (CBS) – A Cambridge investment fund that’s less than a year old has been ordered closed down and frozen by a federal judge.
Investigators found the operation to be a scam.
An investigation showed that Locust Offshore Management, L.L.C. did not have operations in the Virgin Islands as claimed, nor did its principal ever graduate from Harvard as he claimed.
The head of the S.E.C. Boston office, David Bergers, says 27-year-old Andrey Hicks actually flunked out of Harvard.
Listen to the report