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Justice News

Department of Justice
U.S. Attorney’s Office
Western District of Missouri

FOR IMMEDIATE RELEASE
Thursday, October 20, 2016

Springfield Man Sentenced for $1.1 Million Investment Fraud Scheme

SPRINGFIELD, Mo. – Tammy Dickinson, United States Attorney for the Western District of Missouri, announced that a Springfield, Mo., man was sentenced in federal court today for a more than $1.1 million investment fraud scheme.

 

Christopher Hanson, 54, of Springfield, was sentenced by U.S. District Judge M. Douglas Harpool to two years and nine months in federal prison without parole. The court also ordered Hanson to pay $1,134,500 in restitution to his victims.

 

On Sept. 14,2015, Hanson pleaded guilty to wire fraud and money laundering. Hanson, the owner of Hanson Holdings, LLC, admitted that he was responsible for losses that totaled $1,134,500 for three victims of his Ponzi scheme.

 

Hanson offered the three victims what he described as “an investment opportunity.” Hanson told two of the victims that he would take their investment monies and purchase a collateralized mortgage obligation (CMO). Hanson claimed that a line of credit would be obtained against the CMO and both victim investors would receive their original investment plus a substantial dividend within months. Hanson told the third victim that he would purchase bonds and securities with his $100,000 investment. Hanson claimed this investment would generate a 250 percent return and that the victim investor would receive double his original investment within 40 weeks.

 

Financial records revealed that none of the monies obtained by Hanson or Hanson Holdings from these three investors were used to purchase securities or a CMO as Hanson had promised. Agents determined that Hanson authorized the release of the investors’ monies from his Scottrade Account, ETrade Account, or StockCross Account, into his personal bank accounts. Hanson used the money for personal expenses, to pay off parties unrelated to the investment, or he would use the money to pay off earlier investors who were clamoring for a return of their money.

 

According to court documents, Hanson also engaged in an unrelated ongoing fraud in Apple Valley, Minn., for which he faces a civil suit. Hanson also faces state charges in Greene County Circuit Court for a similar, but unrelated, fraud scheme.

 

This case was prosecuted by Assistant U.S. Attorney Patrick Carney. It was investigated by the FBI and IRS-Criminal Investigation.

Topic: 
Financial Fraud
Updated October 20, 2016