New Hampshire Securities Bureau Files Fraud Action vs. Richard Higgins

New Hampshire Securities Bureau Files Fraud Action vs. Richard Higgins 150 150 Rex Securities Law

September 4, 2014–Concord, New Hampshire

UPDATE AUGUST 10, 2015Richard Higgins Sentenced to up to 7 years. Link to New Hampshire Department of Justice news release. 

The New Hampshire Bureau of Securities Regulation filed an action against Richard M. Higgins of Stratham, for securities fraud and acting as an unlicensed investment adviser and broker.

According to the release, it is alleged that HIggins raised about $1 million from 2/2007-5/2014 from nine investors under the pretense that they would be partners in HIggins Equity Partners, LLP. , but the funds were actually deposited in Higgins personal accounts. Higgins is alleged to have sent fraudulent statements to hide his scheme in which he collected over $420,000 in fees and returned $140,000 to investors.

The investments Higgins did make were high risk inverse and leveraged exchange traded funds not suitable for conservative retired investors.

The Bureau seeks restitution and a permanent bar from the securities business in New Hampshire.

Rex Securities Law provides nationwide representation to investors seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.  Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

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