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Lexington Man Charged In Metals Investment Scheme

1:26 PM, Oct 24, 2013   |    comments
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RALEIGH-- A Lexington man is facing felony charges for what investigators are calling a metals investment scam. According to a news release, Agents with the North Carolina Secretary of State Division of Securities along with assistance from Lexington Police Officers, charged Rondell Scott Hedrick, 48 with 27 felony counts related to an alleged precious metals investment scam.

Investigators allege that Hedrick deceived multiple people from around the country into sending him money that he claimed he was using to buy gold overseas and then re-sell for huge profits within a matter of days.

Hedrick solicited his victims via Craigslist, investigators said. He allegedly told them that they would be repaid up to triple what they invested with him.

The felony charges against Hedrick include:

  • 10 counts of Securities Fraud
  • 5 counts of Obtaining Property by False Pretense
  • 5 counts of Securities Dealer Registration Violation
  • 5 counts of Security Registration Violation
  • 2 counts of Violation of a Cease and Desist Order.

Hedrick was not registered to sell financial securities during the alleged incidents and his company was shown on the Secretary of State website to be not in good standing.

Hedrick was placed in the Davidson County Jail under $150,000 secured bond.

Anyone with questions about investment offerings or wanting to learn more about wise investing is urged to visit the NC Secretary of State Division of Securities website.

To check on someone offering an investment for sale, call 1-800-688-4507 or 919-733-3924.

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