Baker City Man Charged in $1.6M Investment Fraud Scheme

Higgins allegedly stole from clients over nearly 17 years by selling their stocks without permission.

Apr. 17, 2026 at 1:53pm

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An extreme close-up photograph of a shredded financial document, such as a stock certificate or investment statement, lit by a harsh, direct camera flash against a pitch-black background, creating a gritty, investigative aesthetic that conceptually represents financial fraud.A shredded financial document, a stark symbol of the investment fraud that allegedly cost victims over $1.6 million.Baker City Today

A 54-year-old investment adviser in Baker City, Oregon has been charged with investment fraud for allegedly stealing over $1.6 million from his clients by selling their stocks without their knowledge and transferring the proceeds to his personal bank account over a nearly 17-year period.

Why it matters

This case highlights the importance of thorough oversight and regulation of the investment advisory industry to protect vulnerable investors from predatory schemes. It also underscores the need for investors to carefully monitor their accounts and be wary of any financial advisers making suspicious claims.

The details

According to court documents, from December 2007 through June 2024, Jeffrey Thomas Higgins lied to investors by claiming he purchased stocks on their behalf at deep discounts when he actually bought them at market value. Higgins then sold the stocks without the investors' knowledge and stole the proceeds, creating fictitious annual statements to cover up his actions.

  • Higgins' alleged fraud scheme ran from December 2007 through June 2024.
  • Higgins made his first court appearance on April 17, 2026.

The players

Jeffrey Thomas Higgins

A 54-year-old investment adviser in Baker City, Oregon who has been charged with investment fraud for allegedly stealing over $1.6 million from his clients.

U.S. Attorney's Office - District of Oregon

The federal prosecutors handling the case against Higgins.

Federal Bureau of Investigation (FBI)

The federal law enforcement agency investigating the case.

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What’s next

Higgins was ordered released pending further court proceedings. The judge will determine whether to allow him to remain free on bail at a future hearing.

The takeaway

This case underscores the need for robust oversight and regulation of the investment advisory industry to protect vulnerable investors from predatory schemes. It also serves as a reminder for all investors to closely monitor their accounts and be wary of any financial advisers making suspicious claims.