KANSAS CITY, Mo. – A 43-year-old man has been sentenced to eight years in federal prison without parole for operating a $4.7 million investment fraud scheme involving cattle.
Cameron Hager, of Clinton, was sentenced Tuesday and ordered to pay $3.2 million in restitution to the victims of his crime. Hager pleaded guilty in June to wire fraud and money laundering.
Hager operated 5A Holdings. He admitted that from July 2015 to September 2017 he solicited victims to invest in a “cattle fund” that would buy herds of cattle to be sold later at a substantial profit. He said he never intended to buy any cattle.
Hager received $4.7 million dollars from 92 investors. The total loss was $3.2 million. Prosecutors say he used the money for personal expenses like mortgage payments and vehicles.