August 10, 2015

A New Hampshire investment advisor was sentenced to up to 7 years in prison for fraud. Richard M. Higgins plead guilty to one felony count of engaging in a course of conduct involving a scheme to defraud in connection with the purchase and sale of securities, and one felony count of a course of business that operated as fraud in connection with acting as an investment advisor. Beginning in late 2006 and continuing through August 2007, Higgins solicited investors for a pooled investment in the form of a limited partnership, making a number of false and misleading statements. Higgins then further defrauded the investors by providing them quarterly statements which regularly overstated the performance of their investments. NH

Tagged in: Financial and Investment Fraud,