Heide, 65, of Lake Worth, Florida, the former 1 Global chief financial officer, pleaded guilty in 2019 to one count of conspiracy to commit securities fraud. The SEC said the trust also owned other businesses, including Digi South, which “used to own Playgirl and other adult magazines.” Digi South used the same address as 1 Global and “received approximately $805,000 in investor funds from 1 Global for no consideration or legitimate services,” the SEC said.įour of Ruderman’s co-conspirators previously pleaded guilty for their roles in the 1 Global fraud, the Justice Department said.Īlan G. The SEC said 1 Global was formed in 2013 and owned by the Ruderman Family Trust. The Securities and Exchange Commission said in a 2018 complaint against Ruderman and 1 Global that the company collected money from investors, many of whom used retirement savings, from February 2014 to July 2018. Investors were falsely told the company had been audited by a public accounting firm, that investors’ money would be spent on the merchant cash advance loans, and that people could expect double-digit returns on investments. The Justice Department said Ruderman admitted he and others made false representations to investors and potential investors about the profitability of 1 Global.
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