Federal Case Filed in Portland
A federal fraud case has been filed against an Oregon-based investment adviser accused of stealing more than $1.6 million from clients over nearly two decades.
The suspect, Jeffrey Thomas Higgins, 54, of Baker City, appeared in federal court and pleaded not guilty to the charges.
Alleged 17-Year Investment Fraud Scheme
According to federal prosecutors, Higgins carried out the scheme from 2007 to 2024 by misleading clients about stock purchases.
He allegedly:
- Claimed he was buying stocks at deep discounts
- Actually purchased them at market value using a personal email
- Diverted a portion of the shares into his own investment account
- Sold those shares and transferred the proceeds to his personal bank account
Clients Misled With False Statements
Prosecutors say Higgins created fake account statements to hide the fraud, inflating profits and concealing the true cost of investments.
In some cases, he reportedly told clients he secured stocks at discounts of up to 91%.
Official transaction records were allegedly redirected to a post office box under his control.
Multiple Victims Impacted
The scheme is said to have affected 12 accounts belonging to 14 investors.
Higgins worked with firms including Western International Securities Inc. and previously Financial West Group before being terminated in 2024.
Charges and Court Proceedings
Higgins faces one count of investment adviser fraud. He entered a not guilty plea during his initial court appearance.
A jury trial is tentatively scheduled for June 16.
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