Missouri man sentenced for $1.1 million investment fraud

1 year 1 month 3 days ago Thursday, October 20 2016 Oct 20, 2016 Thursday, October 20, 2016 3:50:00 PM CDT October 20, 2016 in News
By: The Associated Press

SPRINGFIELD (AP) — A Springfield man was sentenced to nearly 10 years in federal prison without parole for conducting an investment fraud scheme.

Federal prosecutors say 54-year-old Christopher Hanson was sentenced Thursday to two years and nine months for wire fraud and money laundering. He also was ordered to pay $1.1 million in restitution.

Hanson, the owner of Hanson Holdings, LLC, admitted that he persuaded three victims to invest with him by promising substantial returns. Financial records show Hanson used his victims' money for personal expenses, to pay debts or to pay other investors.

Hanson is facing a civil lawsuit accusing him of an unrelated ongoing fraud in Apple Valley, Minnesota. He also faces state charges in Greene County Circuit Court for a similar, but unrelated, fraud scheme.

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