⏱ 3 min read
A cunning investment scam unfolded in rural Oregon, leaving a trail of financial devastation in its wake. For nearly 17 years, Jeffrey Thomas Higgins, 54, of Baker City, convinced his clients to hand over their hard-earned cash, promising sky-high returns.
But instead of investing their shares, Higgins bought the stocks at market value and then sold them without his clients’ knowledge, pocketing the profits. He sent fake annual statements to further deceive his victims, exaggerating their gains.
The scheme, which began in December 2007 and continued until June 2024, ultimately netted Higgins over $1.6M, leaving his clients financially ruined.
According to court documents, Higgins’ victims received only fake statements, mailed to a post office box controlled by the scam artist. The true costs of the stocks were kept hidden from view.
The FBI has taken the reins of the investigation, with Assistant U.S. Attorneys Bryan Chinwuba and Andrew T. Ho leading the prosecution.
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📋 Key Facts
- Crime: White Collar Crime
- Defendant: Oregon
- Location: OR
- Source: DOJ Press Release
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