First State Times

A federal jury has convicted Robert Higgins, a resident of West Chester, Pennsylvania, on charges of mail, wire, and tax fraud. The verdict was announced by David C. Weiss, U.S. Attorney for the District of Delaware, on October 24, 2024. U.S. District Judge Maryellen Noreika accepted the jury's decision and detained Higgins pending sentencing.

Higgins owned First State Depository in Wilmington, Delaware, which managed over $100 million in customer assets consisting mainly of gold and silver bars and coins. Evidence presented during the trial revealed that Higgins misappropriated at least $58 million worth of these assets to settle debts and fund his personal expenses, including luxury vacations and timeshares in Hawaii.

U.S. Attorney Weiss remarked on the case: “The jury found that Mr. Higgins defrauded his customers by repeatedly lying to and stealing from them over a 10-year period... By the end of his scheme, over $50 million in customers’ precious metals was gone.” He praised the efforts of the FBI and IRS-CI for their work in bringing Higgins to justice.

FBI Baltimore Special Agent in Charge William J. DelBagno commented on the conviction: “The level of deceit and greed revealed by this investigation is staggering... The FBI and our partners... remain steadfast in our commitment to combating corruption.”

IRS Criminal Investigation Acting Special Agent in Charge Amy MacNeely emphasized their ongoing efforts against tax evasion: “Anyone contemplating cheating on their taxes should know that IRS Criminal Investigation Special Agents work tirelessly...”

Higgins could face up to 20 years for wire and mail fraud charges along with additional penalties for tax fraud offenses. His sentence will be determined based on U.S. Sentencing Guidelines among other factors.

The case was investigated by both the FBI and IRS-CI with prosecution led by Assistant U.S. Attorneys Alexander Ibrahim, Edmond Falgowski, and Bryan Williamson.

Further details can be accessed through the websites of the U.S. Attorney’s Office for the District of Delaware or via PACER using Case No. 1:22-cr-44.