St. Louis-Seven St. Louis area residents have filed suit claiming they were victims of an investment scam by Las Vegas businessmen who said they can turn minerals from the Nevada desert into fertilizer. Their attorney, Albert Watkins, is accusing officials with Earthly Minerals Solutions of committing fraud and misrepresentation to get his clients to invest more than $800,000 in an elaborate Ponzi scheme, which used money from one investor to pay another. Officials with Earthly Minerals couldn’t be contacted, but one of those named in the suit, CEO Roy Higgs, told a St. Louis TV station he had nothing to say but would be “looking at the lawsuit if there’s one filed.” On its web site, the company touts remineralization as a way to provide solutions to many earthly problems, such as soil quality and plant health, by restoring minerals into areas that are “demineralized.” A natural energizer is offered in three formulas. Watkins said the investors bringing the suit were flown to Las Vegas as part of the sales pitch and taken to a virtually deserted warehouse, described as the industrial center for the mineralization process. Then they went by tour bus to a remote desert area on the outskirts of Las Vegas over an expansive desert. The suit charges violation of six counts, including Missouri’s Blue Sky law, sale of unregistered securities, and breach of fiduciary duty.
Transparency Across the Fertilizer Value-Chain