Springfield man convicted of securities fraud

Two months after sentencing, Springfield businessman Christopher Hanson pleaded guilty to one count of securities fraud and two counts of violations of securities law related to a $1.1 million Ponzi scheme, Missouri Attorney General Chris Koster said.

Greene County Circuit Court Judge David Jones sentenced Hanson to five years in prison to be served concurrently with a federal sentence, according to a news release from Koster’s office.

Previously, Hanson, the owner of Hanson Holdings LLC and IBS Investments LLC, was served a cease and desist order by the Missouri securities commissioner after Hanson sold unregistered securities without a state license. According to the release, Hanson promised investors their money would fund bond purchases and other investments, but instead he used the money to pay off prior investors and for personal use. Hanson was prosecuted by the U.S. Attorney for the Western District of Missouri and was sentenced to 33 months for that scheme.

Ignoring the cease and desist order, authorities said Hanson continued to sell unregistered securities. For instance in 2012, he promised a victim a $450,000 business loan provided the victim first make Hanson a “bridge loan” of $20,000. Hanson promised that, once the proceeds from the loan were released to the victim, the victim would get back his $20,000 investment and $10,000 in profit. According to the release, Hanson used the victim’s money for personal use and never returned his investment or provided him with a loan.

After accepting Hanson’s guilty pleas, Koster worked with the securities division of the Missouri secretary of state’s office in pursuing the case.