U.S. District Judge Reed O'Connor issued orders freezing the company's assets and appointing a receiver.
The suit alleges that at least six investors were led to believe their money would be placed in a mutual fund master account. The SEC says that account didn't exist.
The lawsuit also alleges Randall distributed bogus account statements and fake "screen shots" of online banking activity.
A call to Randall's cell phone by The Associated Press wasn't returned Friday.
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