Ford Truck-lovin’ Missouri Man Runs Ponzi Scheme to Buy Truck
Con man defrauded almost 100 investors to get his Ford truck fix. We hate to think what he’d do for a Klondike bar.
Have you ever heard the expression “Fake it ’til you make it?” Well, a fraudster in Missouri took this idea a little too seriously, faking an entire cattle business so he could fund a desire to live large, and drive a sweet Ford truck. Fortunately, the perpetrator of this Ponzi scheme was caught, and should be in jail until the cows come home.
The con man, Cameron J. Hager, recently pled guilty to running a $4.7 million investment fraud scheme, according to the Drovers website. From July 2015 to September 2017, Hager took money from investors to put in a “cattle fund” through his Clinton, Missouri-based business, 5A Holdings, LLC. He promised to buy herds of cows (which he was buying at bargain basement discounted prices) which would be resold, bringing investors big money. The thing is, there was no cattle fund, because there was no cattle. The money went from investors right into Hager’s pockets. Hager spent the investor’s money on nice Ford F-150 pickup truck, a Toyota 4Runner, Winnebagos, and a 46.6-acre home, valued at $899,000. Holy cow!
Thankfully, the investors have recouped some of their losses, and Hager’s assets (including that sweet truck) have been forfeited to the government. Hager has not yet been sentenced, but he could face up to 30 years in federal prison, without the possibility of parole. A fitting ending for a guy peddling a whole lot of bull.