“Heide’s misrepresentations gave false comfort to investors, allowing them to be duped to invest in 1 Global’s securities,” said Eric I. Bustillo, director of the SEC’s Miami regional office. “We allege that as 1 Global’s CFO, Heide played a significant role in 1 Global’s fraud by overstating the value of investors’ accounts and their rates of return and falsely representing the role of an auditor.”

​The SEC’s complaint charges Heide with violations of the anti-fraud provisions of the federal securities laws. The SEC seeks a court-ordered injunction and a financial penalty. Heide agreed to settle the SEC’s charges as to liability, without admitting or denying the allegations, and agreed to be subject to an injunction, with the court to determine the penalty amount at a later date. Separately, the U.S. Attorney's Office for the Southern District of Florida announced criminal charges against Heide.