Henderson businessman gets prison in fraud case
A Henderson businessman was sentenced Monday in Missouri to five years in prison for a fraudulent scheme to sell mineral rights to investors.
Roy Higgs, 67, was chairman of Earthly Mineral Solutions Inc.
He pleaded guilty in June to conspiracy to commit mail fraud, a felony, and was sentenced in St. Louis.
Prosecutors said the business sold hundreds of investors about $18 million worth of mining claims in the desert near Las Vegas in 2004-06.
Acting U.S. Attorney Michael Reap said Higgs portrayed the investments as a sure thing when they were a long shot.
Higgs agreed to resolve a civil enforcement action by the Securities and Exchange Commission.
Frank Schwartz, 45, of Los Angeles was sentenced in April to three years for his role in the scheme.
