Springfield man pleads guilty to $1.1M investment fraud scheme

A Springfield man pleaded guilty this week to a $1.1 million investment fraud scheme that drew funding from three victims.

Christopher Hanson, 53, waived his right to a grand jury and submitted to two charges against him, one each of wire fraud and money laundering, according to a news release from the office of Tammy Dickinson, U.S. attorney for the Western District of Missouri.

The owner of Hanson Holdings LLC told two of the victims he would use their investments to buy a collateralized mortgage obligation, claiming a line of credit obtained against it would result in the investors receiving their money back and a dividend within months. Hanson told a third person he would purchase bonds and securities with a $100,000 investment, claiming the victim would receive a 250 percent return on investment and double his original investment within 40 weeks.

In his plea agreement, Hanson admitted none of the funding obtained from the investors was used for its intended purpose. Hanson authorized the release of the investors’ funds into his personal bank accounts and then used the money to either pay other investors or unrelated expenses, according to the release.

Under federal statutes, Hanson could face 30 years in prison without parole, plus a fine of up to $500,000 and a restitution order. Sentencing will be scheduled following the presentence investigation.