Hunter Hanson
| Hunter Hanson | |
|---|---|
| Born | Leeds, North Dakota |
| 🏫 Education | New Rockford High School |
| 💼 Occupation | Grain trader, used-car dealership owner |
| Known for | Operating a Ponzi scheme |
Hunter Hanson is an American former grain trader, used-car dealership owner, and fraudster who operated a Ponzi scheme, worth about $11 million.[1][2][3][4][5][6][7][8]
Early life[edit]
Hanson is from Leeds, North Dakota. He graduated in 2015 from New Rockford High School.[9] He became involved in grain trading shortly after graduating.[10]
Grain Ponzi scheme[edit]
At the point that Hanson began to operate his company as a Ponzi scheme, he was unaware of what one was.[9] Hanson's strategy was to contract businesses in order to buy crops. He either failed to pay the businesses or sent them fake checks. He bought crops being sold above market value and sold those crops under the market value.[10] He also participated in money laundering; at one recorded point he had 11 separate bank accounts, and owed one bank over $460,000.[10]
Used car dealership[edit]
In August 2018, he started a used car dealership in Leeds named Hanson Motors. This business was reportedly used by Hanson to 'pour away money' relating to his grain business.[8]
Charges, sentencing and aftermath[edit]
Hanson was sentenced to 8 years in prison, along with 3 years of probation, on November 12, 2019, on charges of wire fraud and money laundering. He will pay $11.1 million in restitution.[9]
References[edit]
- ↑ Pates, Mikkel (9 November 2019). "Co-op manager says Hunter Hanson's time should fit the hit on victims". Agweek. Retrieved 21 May 2021.
- ↑ "ND regulators question grain dealer's plea deal". Valley News Live. 5 July 2019. Retrieved 21 May 2021.
- ↑ Pates, Mikkel (24 April 2020). "Higher payments to victims of fraudster Hunter Hanson possible". Agweek. Retrieved 21 May 2021.
- ↑ Perkins, Jerry (13 February 2020). "Anatomy of a Grain Theft Part 1: How a 20-Year-Old Defrauded Farmers and Grain Businesses Out of Millions". Grain Journal (Grainnet). Retrieved 21 May 2021. Unknown parameter
|url-status=ignored (help) - ↑ "Leeds, ND, Man Sentenced in a $11 Million Dollar Fraud Scheme" (Press release). Bismarck: U.S. Attorney’s Office, District of North Dakota. United States Department of Justice. 12 November 2019. Retrieved 21 May 2021.
- ↑ Pates, Mikkel (13 November 2019). "Looking back on Hunter Hanson's fraud case". Inforum. Retrieved 21 May 2021. Unknown parameter
|url-status=ignored (help) - ↑ Pates, Mikkel (5 September 2019). "Falling prey to Hunter Hanson". Capital Journal. Retrieved 21 May 2021.
- ↑ 8.0 8.1 Pates, Mikkel (9 September 2019). "Inside the used car dealership of North Dakota grain embezzler: Manager says he never knew about ill-gotten grain". West Central Tribune. Retrieved 21 May 2021. Unknown parameter
|url-status=ignored (help) - ↑ 9.0 9.1 9.2 Pates, Mikkel (12 November 2019). "Hunter Hanson sentenced to 8 years for grain fraud scheme". Agweek. Retrieved 21 May 2021.
- ↑ 10.0 10.1 10.2 "Former Grain Trader Hunter Hanson, 22, Gets 8 Years In Prison For $11M Scam". Associated Press. 12 November 2019. Retrieved 21 May 2021.
This article "Hunter Hanson" is from Wikipedia. The list of its authors can be seen in its historical and/or the page Edithistory:Hunter Hanson. Articles copied from Draft Namespace on Wikipedia could be seen on the Draft Namespace of Wikipedia and not main one.
