South Dakota Broker Facing Federal Wire Fraud Charges

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SIOUX FALLS, S.D. (AP) — A Sioux Falls broker who already has been sued by former investors and the Securities and Exchange Commission now faces felony wire fraud charges in federal court.  65-year-old Randal Kent Hansen was indicted Wednesday in the U.S. District Court of South Dakota on separate counts of wire fraud, conspiracy to commit wire fraud, and mail fraud.  Each count is punishable by up to 20 years in prison and a $250,000 fine.  Hansen was the public face of RAHFCO Management Group as well as a handful of other agencies with similar names. Prosecutors and regulators say Hansen’s would promise huge returns to new investors and then use their deposits to pay off older investors.  The SEC filed its complaint against Hansen in March.

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